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2011-530 Shady Grove Core.xlsx - Georgia Department of

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2011-530 Shady Grove Core.xlsx - Georgia Department of Powered By Docstoc
					       Georgia Department of Community Affairs                                                                                                                         Office of Affordable Housing
                                           2011 Application Binder Tabs Checklist For: 2011-530, Shady Grove Apartments, Schley County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                        Included
Tab   Required Application Binder Tabs                    Required Tab Contents and Specified Order                                                                                                      in App
Nbr                                                                                                                                                                                                      Binder

                                                          Completed Application Tabs Checklist                                                                                                           Yes
      CORE QAP DOCUMENTATION
1 Project Overview                                        Completed Core Application (Parts I through X)                                                                                                 Yes
                                                          Documents from USDA indicating project is located in rural area (if applicable)                                                                Yes
                                                          Project Narrative / Project Concept (printed from electronic Core Application)                                                                 Yes
                                                          Copy of Tax Exempt Bond Inducement Resolution, if applicable                                                                                   Yes
                                                          Master Planned Community Documentation                                                                                                         N/a
                                                          Application Certification Letter (Tab X of electronic Core Application)                                                                        Yes
2 Set asides                                              The partnership’s tax returns for the first and final years of credit period                                                                   N/a
         Special Needs Set Aside                          Commitment from DCA Permanent Supportive Housing Program                                                                                       N/a
         CHOICE Neighborhoods / HOPE VI Set Aside         A copy of Grant Assistance Award (form HUD-1044) identifying PHA receiving grant and amount of grant                                           N/a
                                                          Additional documentation reflecting the time limits for use of the HOPE VI funds                                                               N/a
                                                          A letter from the Executive Director of the identified PHA                                                                                     N/a
                                                          A copy of the HUD approved Revitalization Plan                                                                                                 N/a
         Preservation Set Aside                           IRS Forms 8609 for first and final years of credit period                                                                                      N/a
                                                          Legal opinion that project will meet for the 15 year compliance period requirement specified for the Preservation Set-Aside                    N/a
                                                          Replacement housing factor (RHF) funds documents                                                                                               N/a
                                                          Section 515 financing documents                                                                                                                N/a
                                                          Project Based Section 8 contract (Original and Renewal)                                                                                        N/a
                                                          HUD Section 236 decoupling documents                                                                                                           N/a
                                                          HUD/USDA Letter of Priority                                                                                                                    N/a
         Non Profit Set Aside                             IRS Tax-Exempt Status Determination Letter                                                                                                     N/a
                                                          Secretary of State Certification of Nonprofit Status                                                                                           N/a
                                                          General Partnership Joint Venture Agreement if applicable                                                                                      N/a
                                                          Legal Opinion regarding nonprofit tax-exempt status                                                                                            N/a
                                                          Documentation of ALL Nonprofit's ownership interest                                                                                            N/a
                                                          Board of Directors information: name, address, phone, occupation, positions                                                                    N/a
                                                          Development Agreement                                                                                                                          N/a
                                                          By-laws or Articles of Incorporation for Non Profit                                                                                            N/a

3 Project Participants                                    Copies of Performance Workbook for all project participants                                                                                     No
                                                          Copies of DCA experience determinations/Waivers                                                                                                 No
                                                          Probationary participation approval                                                                                                             N/a
                                                          Explanation documentation, if applicable                                                                                                        N/a
                                                          Detailed statements and dates of all governmental debarments/ suspensions, criminal convictions, indictments, bankruptcies and pending criminal N/a
                                                          investigations of all Owners and Developers.
                                                          General Partner Organization Documents Including Operating Agreement                                                                            Yes
                                                          Developer Organization Documents                                                                                                                Yes
                                                          Partnership or Consulting Agreement Between Inexperienced and Experienced Entities, if applies (must have training plan)                        N/a
       ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                Application Tabs Checklist                                                                         1 of 88
       Georgia Department of Community Affairs                                                                                                                     Office of Affordable Housing
                                          2011 Application Binder Tabs Checklist For: 2011-530, Shady Grove Apartments, Schley County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                   Included
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                                                  in App
Nbr                                                                                                                                                                                                 Binder
4 Waivers/Preapprovals (Non financial)                   Pre determination of proposed Project Team Qualifications                                                                                  No
                                                         Architectural Standards Waiver                                                                                                             Yes
                                                         Amenities Pre-Approval                                                                                                                     No
                                                         Tenancy Characteristic Waiver Approval                                                                                                     N/a
                                                         Operating Expense Waiver Approval                                                                                                          N/a
                                                         Payment & Performance Bond Waiver                                                                                                          N/a
                                                         Other Waiver Approval                                                                                                                      No
      THRESHOLD DOCUMENTATION
5 Financing Commitments                                  Preliminary Financing Commitments - Debt, Equity, Historic Rehab Credits & Grants (if applicable)                                          Yes
                                                         CDBG documentation, if applicable                                                                                                          N/a
                                                         NSP Reservation and commitments, if applicable                                                                                             N/a
                                                         AHP Commitment and loan documents, if applicable                                                                                           N/a
                                                         Permanent Supportive Housing commitment                                                                                                    N/a
                                                         Documentation of Applicable Index Rate (for interest rates tied to an index), if applicable                                                N/a
                                                         DCA HOME Loan consent pursuant to the pre-application process, if applicable                                                               N/a
                                                         Operating Subsidy Agreements, if applicable                                                                                                Yes
                                                         HUD Under Consideration Letter & Lender Preliminary Commitment for HUD 221(d)3 or (d)4 Program, if applicable                              N/a
                                                         HUD Invitation to Submit, if applicable                                                                                                    N/a
                                                         USDA documentation, if applicable                                                                                                          No
                                                         Tax Abatement documentation, if applicable                                                                                                 N/a
                                                         Evidence of PBRA Agreements, if applicable                                                                                                 Yes
                                                         Other Financing Commitments                                                                                                                N/a
                                                         Support Documentation for Tax Exemption                                                                                                    N/a
                                                         Alternate Financing Commitments, if applicable, due on or before 8/17/11.                                                                  N/a

6 Assumption of Existing Debt (if applicable)            Estoppel Letter from Lender containing certifications required relating to assumption of existing debt                                     Yes
                                                         Copy of Original Promissory Note and Amendments                                                                                            Yes
                                                         Copy of Original Loan Agreement and Amendments                                                                                             Yes
                                                         Copy of Original Security Instruments                                                                                                      Yes

7 Operating Utility Allowance (UA)                       Current utility allowance schedule from applicable utility provider to be used by project                                                  Yes

8 Additional Feasibility documents                       Documentation back up for construction costs (i.e., Schedule of Values), insurance and taxes                                               Yes
                                                         DCA Operating expense waiver approval                                                                                                      N/a

9 Market Feasibility                                     Market Study for proposed site                                                                                                             Yes

10 Appraisal                                             Applicant Commissioned Appraisal (if applicable)                                                                                           Yes

11 Environmental Requirements                            Phase I Environmental Study (including all appendices in the format prescribed in the Environmental Manual)                                Yes
                                                         Phase II Environmental Study (if applicable)                                                                                               N/a



       ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                               Application Tabs Checklist                                                                     2 of 88
       Georgia Department of Community Affairs                                                                                                                       Office of Affordable Housing
                                          2011 Application Binder Tabs Checklist For: 2011-530, Shady Grove Apartments, Schley County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
   This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
                Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                   Included
Tab   Required Application Binder Tabs                   Required Tab Contents and Specified Order                                                                                                                  in App
Nbr                                                                                                                                                                                                                 Binder
12 Site Control                                          Executed Warranty Deed, Sales Option Contract or long-term ground lease                                                                                    Yes
                                                         Legal Description of Property                                                                                                                              Yes
                                                         HOME Contract Addendum (If applicable)/or right to withdraw                                                                                                N/a

13 Site Access                                           Appropriate drawings, survey and other documents reflecting roads                                                                                          Yes
                                                         Local Govt commitment for funding of paved roads, and timetable if applicable                                                                              N/a
                                                         Proof of ownership or executed easement of a private drive, if applicable                                                                                  N/a
                                                         Plans and costs for paving private drive, if applicable                                                                                                    N/a

14 Site Zoning                                           Documentation from authorized Local Government Official that details zoning, land use classification and conditions of zoning, explanation of              Yes
                                                         requirements, and any conditions of zoning and classification.
                                                         Copy of Ordinance                                                                                                                                          Yes

15 Operating Utility original letters:                   Letter of availability and capacity from local Natural Gas provider                                                                                        N/a
                                                         Public Water/Sewer Requirement Waiver Approval                                                                                                             N/a
                                                         Letter of availability and capacity from proposed local Electricity provider                                                                               Yes
                                                         Letter of availability and capacity from local public water authority                                                                                      Yes
                                                         Letter of availability and capacity from local public sewer authority                                                                                      Yes
                                                         Evidence of easements necessary to extend utilities (if applicable)                                                                                        N/a
                                                         Verification of Annexation and Improvements (if applicable)                                                                                                N/a

16 Local Government Support and Community                Evidence of public meetings and presentations regarding the proposed project to local government and residents of the community                            Yes
   Engagement                                            Resolutions of support or letters of support from local government officials (may be included, but are not required)                                       Yes
                                                         Other (Explain in "Other" tab section at end of this checklist)                                                                                            N/a

17 Rehabilitation Standards                              Physical Needs Assessment (See Rehabilitation Guide in Architectural Manual)                                                                               Yes
   (Rehab projects)                                      Comprehensive Rehabilitation Work Scope                                                                                                                    Yes

18 Site Info and Development Plan                        Location and Vicinity Map (all parcels for a scattered site must be indicated)                                                                             Yes
   (All Projects New AND Rehab)                          Conceptual Site Development Plan of the property                                                                                                           Yes
                                                         Site Maps & Photographs (photos must be color in all copies)                                                                                               Yes
                                                         Aerial Photos of proposed site                                                                                                                             Yes

19 Qualifications for Project Team (Performance)         Organizational Chart (s) with all entities and individuals in the Project Participant Team organizational structures                                       Yes
                                                         Qualification of Project Participants Determination                                                                                                        No
                                                         Real estate properties disclosure                                                                                                                          No
                                                         Development fee sharing arrangements                                                                                                                       Yes
                                                         Guarantor agreements                                                                                                                                       N/a
                                                         Consulting agreements - direct or indirect, paid or unpaid                                                                                                 Yes
                                                         Documentation of all pending litigation                                                                                                                    Yes
                                                         Conclusively demonstrative documentation of current ownership and operation of 5 (five) or more successful LIHTC projects in which you own a               Yes
                                                         minimum 20% interest in the General Partner and Development entities


       ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                              Application Tabs Checklist                                                                                      3 of 88
       Georgia Department of Community Affairs                                                                                                                              Office of Affordable Housing
                                              2011 Application Binder Tabs Checklist For: 2011-530, Shady Grove Apartments, Schley County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
   This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
                Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                         Included
Tab   Required Application Binder Tabs                         Required Tab Contents and Specified Order                                                                                                                  in App
Nbr                                                                                                                                                                                                                       Binder
20 Additional HOME/HUD Requirements                           Site & Neighborhood Standards documentation                                                                                                                 N/a
                                                              US Census Tract documentation                                                                                                                               N/a
                                                              Certification for Contracts, Loans and Cooperative Agreements                                                                                               N/a
                                                              Disclosure of Lobbying Activities                                                                                                                           N/a
                                                              Applicant / Recipient Disclosure / Update Report                                                                                                            N/a
                                                              MBE / WBE Outreach Plan Guide form                                                                                                                          N/a
                                                              Affirmative Fair Housing Marketing Plan                                                                                                                     N/a

21 Required Legal Opinions                                    Legal Opinion for Assisted Living (as applicable)                                                                                                           N/a
                                                              LIHTC Legal Opinion as to Project Qualification for Acquisition Credits                                                                                     Yes
                                                              Accessibility exemption Legal Opinion (if applicable)                                                                                                       N/a
                                                              Legal opinion for scattered site projects. The legal opinion should address the proposed site plan and must be included as part of the opinion              N/a
                                                              Other legal (Explain in "Other" tab section at end of this checklist)                                                                                       N/a
22 Relocation (if applicable)                                 Relocation Displacement Spreadsheet                                                                                                                         Yes
                                                              Detailed Project-Specific Displacement/Relocation Plan and Budget                                                                                           Yes
                                                              Multifamily Tenant Relocation Plan Certification                                                                                                            Yes
                                                              Temporary Relocation Cost Estimate                                                                                                                          Yes
                                                              General Info Notice for Occupants at Time of App / Proof of Delivery                                                                                        No
                                                              Occupancy History                                                                                                                                           Yes
                                                              Site Map of Property                                                                                                                                        Yes
                                                              Tenant Household Data Forms                                                                                                                                 Yes
                                                              Site Relocation Survey                                                                                                                                      Yes
23 Marketing To Populations With Disabilities Or The Marketing Plan incorporates outreach efforts to each service provider, homeless shelter or local disability advocacy organization in project's county                Yes
   Homeless                                          Marketing Plan outlining how the project will market units to tenants with disabilities and the homeless                                                             Yes
                                                              Marketing Plan establishes and maintains relationships between the management agent and community service providers                                         Yes
                                                              Marketing Plan including a referral and screening process, the screening criteria and a plan to provide reasonable accommodations to facilitate the         Yes
                                                              admittance of persons with disabilities or the homeless into the project
      SCORING DOCUMENTATION
24 Desirable / Undesirable Characteristics                    Desirable/Undesirable Form                                                                                                                                  N/a
                                                              A site map indicating the specific locations of each desirable and undesirable activity/ characteristics                                                    N/a
                                                              Photographs of the desirable and undesirable activities/characteristics                                                                                     N/a
                                                              Documentation from the owner of the site on which the undesirable condition exists or from a third party government source documenting how such             N/a
                                                              change will occur and the time frame
                                                              Documentation that evidences the desirable activity/characteristic that will be located in sites under construction                                         N/a
25 Community Transportation Options                           Map showing the location of the Rapid Rail Transit station and/or public transit stop in relation to the proposed development site                          N/a
                                                              Documentation from transit authority showing relevant bus route and schedule                                                                                N/a




       ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                  Application Tabs Checklist                                                                                        4 of 88
       Georgia Department of Community Affairs                                                                                                                        Office of Affordable Housing
                                           2011 Application Binder Tabs Checklist For: 2011-530, Shady Grove Apartments, Schley County
          Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
   This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
                Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                    Included
Tab   Required Application Binder Tabs                    Required Tab Contents and Specified Order                                                                                                                  in App
Nbr                                                                                                                                                                                                                  Binder
26 Adaptive Re-Use                                        Documentation on the previous use of the building                                                                                                          N/a
                                                          Photographs of the building that to be reused                                                                                                              N/a
                                                          Documentation of whether or not the building is occupied                                                                                                   N/a
                                                          Narrative of how building will be reused                                                                                                                   N/a

27 Brownfield                                             Evidence of designation as a Brownfield site                                                                                                               N/a
                                                          Opinion letter from either an attorney or a PE that the property appears to meet requirements for issuance of EPD Letter of No Further Action              N/a
                                                          Proposed scope of work for clean up of a site                                                                                                              N/a
                                                          Detailed budget for clean up                                                                                                                               N/a
                                                          Time line for clean up of the site                                                                                                                         N/a

28 Sustainable Communities Certification                  Draft scoring sheet for the development that includes the minimum score under the program to qualify for the designation                                   N/a
                                                          Master site plan for the development                                                                                                                       N/a
                                                          Copy of an executed EarthCraft Communities Memorandum of Participation for the development the project is locating within or LEED-ND registration          N/a
                                                          for the larger development from US Green Building Council

29 Sustainable Building Certification                     Draft scoring sheet for the development that includes the minimum score under the program to qualify for the designation.                                  N/a
                                                          Certification of completion of Southface’s green building for affordable housing training course                                                           N/a

30 Stable Communitities                                   Each page of FFIEC census demonstrating project meets requirements                                                                                         N/a

31 Community Redevelopment /Revitalization Plans and Strategies
      HOPE VI or CHOICE Neighborhoods Initiatives A copy of the HOPE VI or Choice Neighborhoods Revitalization Grant Assistance Award (form HUD-1044) identifying funded PHA and amount                              N/a
                                                          Additional documentation reflecting the time limits for use of the HOPE VI or Choice Neighborhoods funds                                                   N/a
                                                          A certification letter from the Executive Director of the identified PHA                                                                                   N/a
                                                          A copy of the HUD approved Revitalization Plan.                                                                                                            N/a
        Statutory Redevelopment Plans                     Copy of the Plan                                                                                                                                           N/a
                                                          Website address where information regarding the plan can be located                                                                                        N/a
                                                          Copy of Resolution(s) adopting the Plan according to requirements of statute                                                                               N/a
                                                          Documentation of Public Hearing and Publication if required by statute                                                                                     N/a
                                                          Documentation that Plan is current, ongoing and directly affects the site                                                                                  N/a
        Redevelopment Zones                               Copy of Resolution adopting the state enterprise zone                                                                                                      N/a
                                                          Documentation evidencing that the proposed site is located in a QCT/DDA                                                                                    N/a
        Local Redevelopment Plans                         DCA Neighborhood Redevelopment Certification Form                                                                                                          N/a
                                                          Documentation of the process the government used for developing and adopting the plan                                                                      N/a
                                                          Details regarding community input and public hearings held prior to the adoption of the plan                                                               N/a
                                                          Copy of the entire plan                                                                                                                                    N/a
                                                          Evidence of adoption                                                                                                                                       N/a
                                                          Map of area targeted by plan identifying location of project                                                                                               N/a



       ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                              Application Tabs Checklist                                                                                       5 of 88
       Georgia Department of Community Affairs                                                                                                                           Office of Affordable Housing
                                           2011 Application Binder Tabs Checklist For: 2011-530, Shady Grove Apartments, Schley County
           Directions: Place an "X" in the green-shaded boxes beside items secured in the Application Package. Place completed Tabs Checklist in front of Tab 1 in the application binder.
  This tab checklist is formulated to aid applicants in appropriately organizing documentation. It is not meant to be a conclusive list of documentation which is required for an application.
               Applicant's should review the QAP carefully. The application must contain all required documentation which will allow DCA to adequately review each section
                                                                                                                                                                                                                   Included
Tab   Required Application Binder Tabs                      Required Tab Contents and Specified Order                                                                                                               in App
Nbr                                                                                                                                                                                                                 Binder
32 Tenant Ownership                                         Copy of Strategy meeting requirements                                                                                                                   N/a

33 Historic Designation                                     Copy of the Georgia DNR-HPD and NPS approved Part 1, Part 2 and, if applying, the Georgia-approved Part A                                               N/a
                                                            Copy of preliminary equity commitment for federal and Georgia historic rehab credits                                                                    N/a
                                                            NPS National Historic Designation documentation on or before 8/17/2011                                                                                  N/a

34 Preservation of Affordable Projects
        Expiring Tax Credit Properties                      Partnership’s tax returns for the first and last years in which credits were claimed, along with the appropriate IRS Forms 8609 attached                N/a
        USDA Properties                                     Documentation from USDA specifying the projects’ High Priority designation                                                                              N/a
        HUD Properties                                      Documentation from HUD specifying the projects High Priority designation                                                                                N/a

35 Tax Credit Experience                                    Letter from closing attorney evidencing final closing of equity and construction has occurred and the date                                              N/a

36 DCA Community Initiatives                                Letter executed by Official Representative                                                                                                              N/a

37 3rd Party Investment in Offsite Amenities                Commitment of Funds                                                                                                                                     N/a
                                                            Detailed Source of Funds                                                                                                                                N/a
                                                            Amount of Investment                                                                                                                                    N/a
                                                            Timeline for Completion                                                                                                                                 N/a
                                                            Description and location of improvements on site map                                                                                                    N/a
                                                            Narrative that includes benefit specific to the tenant base                                                                                             N/a

38 Compliance / Performance                                 DCA Compliance History Form for each project                                                                                                            N/a
                                                            DCA Compliance Certification for each state finance agency from which the Owner/Developer entity, affiliates or principals have received LIHTC          N/a

39 Other
        (Provide name of each item and what section it is
        needed for)
                 Note: Additional Forms and Documentation required for the 2011 Application Submittal may be obtained on the DCA website at
                                     http://www.dca.state.ga.us/housing/HousingDevelopment/programs/QAP2011docs.asp




       ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                 Application Tabs Checklist                                                                                   6 of 88
                                                             Project Narrative
                                                          Shady Grove Apartments
                                                           Ellaville, Schley County

WWJ, LLC (the “Applicant”) seeks an allocation of 2011 4% Non-Competitive Low Income Housing Tax Credits from the Georgia
Department of Community Affairs for the acquisition-rehabilitation of Shady Grove Apartments in accordance with the 2011 Qualified
Allocation Plan or as mutually agreed upon by all parties.

Project             Shady Grove Apartments

Location             474 East Oglethorpe Street
                     Ellaville, Schley County, GA 31806-3647

Ownership New Shady Grove Apartments, LLC, a Georgia limited liability company with WWJ, LLC as the managing member (Federal EIN
#45-4560870).


SITE DETAILS
Shady Grove Apartments is an existing residential development, currently operating as an affordable family rental community governed by
USDA Rural Development. Shady Grove Apartments were built in 1985.

Shady Grove is situated on a parcel totaling approximately 2.0 acres and houses 18 total residential units for low-income family households.
The unit mix is comprised of (6) 1BR units at 651 SF and (12) 2BR units at 878 SF. The site (Map Number E020 1 5) is zoned R-2 Multi-
Family Residential and is considered legal conforming by the City of Ellaville. Shady Grove Apartments is comprised of (3) residential
buildings and (1) non-residential building.

Based on the evidenced market need in the community, WWJ, LLC is seeking to acquire the property in order to not only preserve the
physical asset by completing a substantial rehabilitation, but also preserve the affordable housing restrictions for at least another thirty (30)
years (currently at risk of being removed from the affordable housing inventory).

Planned Development Activities
The Development Budget of $1,376,927.00 includes an estimated $539,245 ($29,958 per unit) of improvements. The proposed scope of
work will be in accordance with the 2011 Qualified Allocation Plan adopted by the Georgia Department of Community Affairs, but also
incorporating the agreed upon amended minimum threshold and design standard requirements into final plans and specifications. Planned
interior improvements will include (but not limited to) flooring, appliances, HVAC, hot water heater, kitchen counters and cabinets, as well as
bathroom fixture upgrades and replacing tubs. Electrical improvements will include the replacement of all interior and exterior light fixtures,
new GFI outlets and new smoke detectors. Exterior improvements include new windows, doors, gutters, siding, and replace existing roof.
Landscape enhancements will also be implemented. Furthermore, all outstanding accessibility and Section 504 issues will be addressed.


Tenant Selection / Rental Assistance
All units will be income and rent-restricted, following IRS LIHTC Section 42 and Tax Exempt Bond regulations, as well as continuing the
USDA Section 515 program restrictions. The managing agent will target family households earning a maximum of 60% of the Area Median
Income. Shady Grove currently has 15 units (83.3%) of Section 521 project-based Rental Assistance provided by Rural Development. Such
subsidy is anticipated to continue post transfer to the new ownership.
                                                                                                                                  Primary
Market Area (PMA) for Shady Grove Apartments includes the city of Ellaville and the outlying, unincorporated portions of Schley County.
Between 2000 and 2011, the site PMA population increased by 17.8% and this type of growth is expected to continue in the near future. The
number of households is expected to continue to increase as well, roughly 3% between 2011 and 2013. These are positive indicators for
demand for rental housing within the site PMA.

The successful acquisition/rehabilitation of Shady Grove Apartments will help preserve and maintain the much needed affordable housing




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                                            Project Narrative
                                       Shady Grove Apartments
                                        Ellaville, Schley County




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                                            Project Narrative
                                       Shady Grove Apartments
                                        Ellaville, Schley County




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              Georgia Department of Community Affairs                                                                          2011 Funding Application                                                         Office of Affordable Housing
                                                PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

Please note:                           Blue-shaded cells are unlocked for your use and do not contain references/formulas.                                                        DCA Use Only - Project Nbr:
                                       Green-shaded cells are unlocked for your use and do contain references/formulas that can be overwritten.                                             2011-530

I.        DCA RESOURCES                              LIHTC (auto-filled based on later entries)                   $                 41,357
                                                     DCA HOME (amount from Consent Form)                          $                      -

II.       TYPE OF APPLICATION                        Tax Exempt Bond / 4% credit                        Other:
III.      APPLICANT CONTACT FOR APPLICATION REVIEW
          Name                                       Tanya Eastwood                                                                                     Title       Managing Director
          Address                                    4700 Falls of Neuse Road, Suite 120                                                                Direct Line             (919) 573-7515
          City                                       Raleigh                                                                                            Fax                     (540) 359-7663
          State                                      NC                                              Zip+4              27609-6200                      Cellular                (919) 357-5576
          Office Phone                               (919) 573-7502                                   Ext.            7515      E-mail        TEastwood@GreystoneAHI.com
          (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)

IV.       PROJECT LOCATION
          Project Name                               Shady Grove Apartments                                                                                Phased Project?            No
          Site Street Address                        474 East Oglethorpe Street                                                                            Scattered Site?            No
          City                                       Ellaville                                   9-digit Zip *        31806-3647                           Acreage                    2
          Within City Limits?                        Yes                                        County         Schley                                      Census Tract #             9601
          In USDA Rural Area?                        Yes                                   HUD MSA/NonMSA Schley Co.                                       QCT?          No                  DDA? No
                                                           Congressional *                 State Senate                 State House
          Legislative Districts                                  2                              14                          134
          If on boundary, other district:
          Political Jurisdiction                     City of Ellaville
          Name of Chief Elected Official             David Theiss                                                                   Title     Mayor
          Address                                    PO Box 839                                                                     City      Ellaville
          Zip+4                                      31806-0839                       Phone                    (229) 937-2207                      Fax           (229) 937-5569

V.        PROJECT DESCRIPTION                                                                                    * Must be verified by applicant using following websites:
       A. Mixed Use                                        No                                                    Zip Codes                http://zip4.usps.com/zip4/welcome.jsp
       B. Type of Construction:                                                                                  Congressional Districts: http://www.govtrack.us/congress/findyourreps.xpd
          New Construction
          Adaptive Reuse
          Acquisition/Rehabilitation                       18       For Acquisition/Rehabilitation, date of original construction:                6/1/85
          Substantial Rehabilitation
          Historic Rehab




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                                              PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

        C. Unit Breakdown                                                                     # of PBRA               D. Unit Area
           Number of Low Income Units                                                 18         Units                   Total Low Income Residential Square Footage                        14,446
                        Number of 50% Units                                                                              Total Unrestricted (Market) Residential Square Footage
                        Number of 60% Units                                           18          15                     Total Residential Square Footage                                   14,446
           Number of Unrestricted (Market) Units                                                                         Total Common Space Square Footage from Units
           Total Residential Units                                                    18                                 Total Square Footage from Units                                    14,446
           Common Space Units
           Total Units                                                                18
        E. Buildings    Number of Residential Buildings                                3                                 Total Common Area Square Footage from Nonresidential areas          451
                        Number of Non-Residential Buildings                            1                                 Total Square Footage                                               14,897
                        Total Number of Buildings                                      4
        F. Total Residential Parking Spaces (min 1.5 per unit)                        31

VI.        TENANCY CHARACTERISTICS
        A. Family or Senior                                                       Family                                 If Other, specify:
        B. Mobility Impaired                          Nbr of Units Equipped:           1                                 % of Total Units                                                   5.6%
        C. Sight / Hearing Impaired                   Nbr of Units Equipped:           1                                 % of Total Units                                                   5.6%
        D. Special Needs Units                                    Nbr of Units:                                          % of Total Units

VII.       RENT AND INCOME ELECTIONS
        A. Tax Credit Election                                                         40% of Units at 60% of AMI
        B. DCA HOME Projects Minimum Set-Aside Requirement (Rent & Income)                                                20% of HOME-Assisted Units at 50% of AMI

VIII.      SET ASIDES
                                                   Nonprofit                                  Rural                                    CHOICE Neighborhoods / HOPE VI
                                                   Preservation                               Special Needs                            Supplemental (Noncompetitive - see QAP)

IX.        TAX EXEMPT BOND FINANCED PROJECT
           Issuer:                    Housing Authority of the City of Athens, Georgia                                                              Inducement Date:        June 28, 2011
           Office Street Address      300 South Rocksprings Street                                                                                  Applicable QAP:         2011
           City                       Athens                                     State            GA          Zip+4             30606-3644
           Contact Name               J. Richard Parker II                        Title       Executive Director                        E-mail      rparker@athenshousing.org
           10-Digit Office Phone      (706) 425-5300                              Fax             (706) 425-5299          Direct line                             Cellular




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                                             PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

X.       AWARD LIMITATIONS FOR CURRENT DCA COMPETITIVE ROUND
         The following sections apply to all direct and indirect Owners, Developers and Consultants (Entity and Principal) :
      A. Number of Applications Submitted:
      B. Amount of Federal Tax Credits in All Applications:
      C. Names of Projects in which an Owner, Developer and Consultant(s) and each of its principals has a direct or indirect Ownership interest:
         Project Participant                Name of Project                                   Project Participant                   Name of Project
         1                                                                                             8
         2                                                                                             9
         3                                                                                             10
         4                                                                                             11
         5                                                                                             12
         6                                                                                             13
         7                                                                                             14

      D. Names of Projects in which the Owner, Developer and Consultant(s) and each of its principals is partnering with an inexperienced unrelated entity for purposes of meeting
         DCA Experience Requirements:
         Project Participant                Name of Project                                   Project Participant                   Name of Project
         1                                                                                             8
         2                                                                                             9
         3                                                                                             10
         4                                                                                             11
         5                                                                                             12
         6                                                                                             13
         7                                                                                             14

XI.      PRESERVATION                                                            Yes
      A. Subsequent Allocation                                                   No
         Year of Original Allocation
         Original GHFA/DCA Project Number
         First Year of Credit Period                                                                                 First Building ID Nbr in Project
         Expiring Tax Credit (15 Year)                                                                               Last Building ID Nbr in Project
         Date all buildings will complete 15 yr Compliance pd
      B. Expiring Section 8                                                      No
      C. Expiring HUD or USDA
         HUD funded affordable nonpublic housing project                         No                                  HUD funded affordable public housing project   No
         USDA funded affordable nonpublic housing project                        Yes




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              Georgia Department of Community Affairs                                                                    2011 Funding Application                                                   Office of Affordable Housing
                                               PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

XII.      ADDITIONAL PROJECT INFORMATION
       A. PHA Units
          Is proposed project part of a local public housing replacement program?                                            No
          Number of Public Housing Units reserved and rented to public housing tenants:                                                % of Total Residential Units
          Nbr of Units Reserved and Rented to PHA Tenants w/ PBRA or Households on Waiting List:                                       % of Total Residential Units
          Local PHA                   Housing Authority of the City of Ellaville                                                       Contact       Len Williams (CEO)
          Street Address              1000 Wynnton Road                                                                                Email         smcguire@columbushousing.org
          City                        Columbus                                             Zip+4              31906-2801               Direct line
          Area Code / Phone           (706) 571-2800                             Fax    (706) 571-2864                                 Cellular
       B. Existing properties: currently an Extention of Cancellation Option?                 No       If yes, expiration year:                        Nbr yrs to forgo cancellation option:
       C. Is there a Tenant Ownership Plan?                                                   No
       D. Is the Project Currently Occupied?                                                 Yes
          Total Existing Units                                                                18
          Number Occupied                                                                     16
          % Existing Occupied                                                             88.89%
       E. Waivers and/or Pre-Approvals - have the following waivers and/or pre-approvals been approved by DCA?
          Amenities?                                                                          No                                       Other Tenancy?
          Architectural Standards?                                                            No                                       Probationary Participation?
          HOME Consent?                                                                                                                Service Requirement (for small rural projects)?
          Qualification Determination?                                                        No                                       Payment & Performance Bond?                             No
          Pre-determination of Qualification to Compete?
          Operating Expense?                                                                         ---------------------------> If Yes, new Limit is:
          Other (specify waiver): Financial Waiver                                            No
       F. Projected Place-In-Service Date
          Acquisition                                                                   April 30, 2012
          Rehab                                                                         October 31, 2013
          New Construction




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                                                      PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

XIII.      APPLICANT COMMENTS AND CLARIFICATIONS                                                                                           XV.            DCA COMMENTS - DCA USE ONLY
XII - ADDITIONAL PROJECT INFORMATION (E): Consent granted by DCA to submit one comprehensive Architectural Waiver
(including amenity exceptions) and one comprehensive Financial Waiver for each project within the preservation portfolio. See
TAB 4 for specifics and support.

XII - ADDITIONAL PROJECT INFORMATION (E): Consent granted by DCA to submit the Performance Workbook along with the
Core Application; therefore, a pre-determination of project team qualifications has not been obtained.

XII - ADDITIONAL PROJECT INFORMATION (E): Consent granted by DCA to exclude the Payment and Performance Bond
requirement. DCA will defer to requirements established by the syndicator and/or lender with regard to payment and performance
bonds, letters of credit or guarantees for construction completion.




        Sta                                 (Non)Metropolit                  FMR MSA                                       Tax-Exempt                                                                                                                       Unincorporated
        te County Name     Utility Region   an SA           MSA?             Name             FMR MSA                      Bond Issuers                                                  City            County       other                                 Place          County
        AL Appling         South            Appling Co.                      Appling County, GA    N                       Abbeville Housing Authority                                   Abbeville       Wilcox       Abbeville City                        Coleman        Randolph
        AK Atkinson        South            Atkinson Co.                     Atkinson County, GA N                         Acworth Downtown Development Authority                        Acworth         Cobb         Acworth City                          Cusseta        Chattahoochee
        AZ Bacon           South            Bacon Co.                        Bacon County, GA      N                       Adairsville Development Authority                             Adairsville     Bartow       Adairsville City                      Georgetown     Quitman
        AR Baker           South            Albany                           Albany, GA MSA        Y                       Adairsville Downtown Development Authority                    Adel            Cook         Adel City                             Martinez       Columbia
        CA Baldwin         Middle           Baldwin Co.                      Baldwin County, GA N                          Albany-Dougherty Inner City Authority                         Adrian          Johnson      Adrian City                           Preston        Webster
        CO Banks           North            Banks Co.                        Banks County, GA      N                       Alma Downtown Development Authority                           Ailey           Montgomery   Ailey City                            Tennille       Washington
        CT Barrow          Middle           Atlanta-Sandy Springs-Marietta                         Y
                                                                             Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                                           Arabi Industrial Development Authority                        Alamo           Wheeler      Alamo Town                            Weston         Webster
        DE Bartow          North            Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Housing Authority
                                                                                                   Y                       Arlington                                                     Alapaha         Berrien      Alapaha Town
        DC Ben Hill        South            Ben Hill Co                      Ben Hill County, GA N                         Athens-Clarke County Downtown Development Authority           Albany          Dougherty    Albany City
        FL Berrien         South            Berrien Co.                      Berrien County, GA    N                       Atkinson County-Coffee County Joint Development Authority     Aldora          Lamar        Aldora Town
        GA Bibb            Middle           Macon                            Macon, GA MSA         Y                       Atlanta Development Authority                                 Allenhurst      Liberty      Allenhurst City
        HI Bleckley        South            Bleckley Co.                     Bleckley County, GA N                         Augusta, Georgia Landbank Authority                           Allentown       Wilkinson    Allentown City
        ID Brantley        South            Brunswick                        Brunswick, GA MSA Y                           Bacon County Development Authority                            Alma            Bacon        Alma City
        IL Brooks          South            Valdosta                         Valdosta, GA MSA      Y                       Banks/Habersham Counties Joint Development Authority          Alpharetta      Fulton       Alpharetta City
        IN Bryan           South            Savannah                         Savannah, GA MSA Y                            Barnesville Housing Authority                                 Alston          Montgomery   Alston Town
        IA Bulloch         South            Bulloch Co.                      Bulloch County, GA    N                       Bartow-Cartersville Joint Development Authority               Alto            Habersham    Alto Town
        KS Burke           Middle           Augusta-Richmond Co.             Augusta-Richmond County, GA-SC MSA
                                                                                                   Y                       Ben Hill-Irwin Area Joint Development Authority               Ambrose         Coffee       Ambrose City
        KY Butts           Middle           Atlanta-Sandy Springs-Marietta   Butts County, GA HUD Metro FMR Area
                                                                                                   Y                       Berrien County Development Authority                          Americus        Sumter       Americus City
        LA Calhoun         South            Calhoun Co.                      Calhoun County, GA N                          Boston Downtown Development Authority                         Andersonville   Sumter       Andersonville City
        ME Camden          South            Camden Co.                       Camden County, GA N                           Bowdon Housing Authority                                      Arabi           Crisp        Arabi Town
        MD Candler         South            Candler Co.                      Candler County, GA N                          Brantley County Development Authority                         Aragon          Polk         Aragon City
        MA Carroll         Middle           Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Housing Authority
                                                                                                   Y                       Bremen                                                        Arcade          Jackson      Arcade Town
        MI Catoosa         North            Chattanooga                      Chattanooga, TN-GA MSAY                       Brooks County Development Authority                           Argyle          Clinch       Argyle Town
        MN Charlton        South            Charlton Co.                     Charlton County, GA N                         Brunswick and Glynn County Development Authority              Arlington       Calhoun      Arlington City
        MS Chatham         South            Savannah                         Savannah, GA MSA Y                            Bryan County-Pembroke Development Authority                   Arnoldsville    Oglethorpe   Arnoldsville City
        MO Chattahoochee   Middle           Columbus                         Columbus, GA-AL MSA Y                                                                                       Ashburn
                                                                                                                           Butts, Henry, Lamar and Spalding County Joint Development Authority           Turner       Ashburn City
        MT Chattooga       North            Chattooga Co.                    Chattooga County, GA N                        Byron Development Authority                                   Athens          Clarke       Defunct city govt
        NE Cherokee        North            Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                   Y                       Byron Downtown Development Authority                          Atlanta         Fulton       Atlanta City
        NV Clarke          Middle           Athens-Clarke Co.                Athens-Clarke County, GA MSA
                                                                                                   Y                       Byron Redevelopment Authority                                 Attapulgus      Decatur      Attapulgus City
        NH Clay            South            Clay Co.                         Clay County, GA       N                       Calhoun Downtown Development Authority                        Auburn          Barrow       Auburn City


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       Georgia Department of Community Affairs                                                                            2011 Funding Application                                                                             Office of Affordable Housing
                                     PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

NJ Clayton      Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area County Joint Development Authority
                                                                                  Y                       Camden                                                          Augusta        Richmond    Defunct city govt
NM Clinch       South      Clinch Co.                       Clinch County, GA     N                       Canton Development Authority                                    Austell        Cobb        Austell City
NY Cobb         North      Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Redevelopment Authority
                                                                                  Y                       Carrollton                                                      Avalon         Stephens    Avalon Town
NC Coffee       South      Coffee Co.                       Coffee County, GA     N                       Cartersville Development Authority                              Avera          Jefferson   Avera City
ND Colquitt     South      Colquitt Co.                     Colquitt County, GA N                         Cartersville Downtown Development Authority                                    DeKalb
                                                                                                                                                                          Avondale Estates           Avondale Estates City
OH Columbia     Middle     Augusta-Richmond Co.             Augusta-Richmond County, GA-SC MSA
                                                                                  Y                       Catoosa County Development Authority                            Baconton       Mitchell    Baconton City
OK Cook         South      Cook Co.                         Cook County, GA       N                       Cedartown Development Authority                                 Bainbridge     Decatur     Bainbridge City
OR Coweta       Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Downtown Development Authority
                                                                                  Y                       Cedartown                                                       Baldwin        Habersham   Baldwin City
PA Crawford     Middle     Macon                            Macon, GA MSA         Y                       Central Georgia Joint Development Authority                     Ball Ground    Cherokee    Ball Ground City
RI Crisp        South      Crisp Co.                        Crisp County, GA      N                       Central Savannah River Area Unified Development Authority       Barnesville    Lamar       Barnesville City
SC Dade         North      Chattanooga                      Chattanooga, TN-GA MSAY                       Central Valdosta Development Authority                          Bartow         Jefferson   Bartow Town
SD Dawson       North      Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                       Chatham-Savannah Authority for the Homeless                     Barwick        Thomas      Barwick City
TN Decatur      South      Decatur Co.                      Decatur County, GA N                          Chattooga County Development Authority                          Baxley         Appling     Baxley City
TX Dekalb       Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area County Development Authority
                                                                                  Y                       Cherokee                                                        Bellville      Evans       Bellville City
UT Dodge        South      Dodge Co.                        Dodge County, GA      N                       City of Alpharetta Development Authority                        Belvedere Park DeKalb      Census Designated Place
VT Dooly        South      Dooly Co.                        Dooly County, GA      N                       City of Barnesville and County of Lamar Development Authority   Berkeley Lake Gwinnett     Berkeley Lake City
VA Dougherty    South      Albany                           Albany, GA MSA        Y                       City of Cairo Development Authority                             Berlin         Colquitt    Berlin City
WA Douglas      Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                       City of Claxton Downtown Development Authority                  Bethlehem      Barrow      Bethlehem Town
WV Early        South      Early Co.                        Early County, GA      N                       City of Clayton Downtown Development Authority                  Between        Walton      Between Town
WI Echols       South      Valdosta                         Valdosta, GA MSA      Y                       City of Commerce Downtown Development Authority                 Bibb City      Muscogee    Defunct city govt
WY Effingham    South      Savannah                         Savannah, GA MSA Y                            City of Cumming Development Authority                           Bishop         Oconee      Bishop Town
   Elbert       Middle     Elbert Co.                       Elbert County, GA     N                       City of Dawson Development Authority                            Blackshear     Pierce      Blackshear City
   Emanuel      South      Emanuel Co.                      Emanuel County, GA N                          City of Dublin and County of Laurens Development Authority      Blacksville    Henry       Census Designated Place
   Evans        South      Evans Co.                        Evans County, GA      N                       City of Duluth Downtown Development Authority                   Blairsville    Union       Blairsville City
   Fannin       North      Fannin Co.                       Fannin County, GA     N                       City of Fayetteville Downtown Development Authority             Blakely        Early       Blakely City
   Fayette      Middle     Atlanta-Sandy Springs-Marietta                         Y
                                                            Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                          City of Jesup Downtown Development Authority                    Bloomingdale Chatham       Bloomingdale City
   Floyd        North      Rome                             Rome, GA MSA          Y                       City of Stockbridge, Georgia Downtown Development Authority     Blue Ridge     Fannin      Blue Ridge City
   Forsyth      North      Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                       City of Sugar Hill Downtown Development Authority               Bluffton       Clay        Bluffton Town
   Franklin     North      Franklin Co.                     Franklin County, GA N                         City of Sylvania Downtown Development Authority                 Blythe         Richmond    Blythe Town
   Fulton       Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                       City of Washington Downtown Development Authority               Bogart         Oconee      Bogart City
   Gilmer       North      Gilmer Co.                       Gilmer County, GA     N                       City of Willacoochee Development Authority                      Bonanza        Clayton     Census Designated Place
   Glascock     Middle     Glascock Co.                     Glascock County, GA N                         Clay County Development Authority                               Boston         Thomas      Boston City
   Glynn        South      Brunswick                        Brunswick, GA MSA Y                           Clinch County Development Authority                             Bostwick       Morgan      Bostwick City
   Gordon       North      Gordon Co.                       Gordon County, GA N                           Consolidated Housing Authority of Talbot County, Georgia        Bowdon         Carroll     Bowdon City
   Grady        South      Grady Co.                        Grady County, GA      N                       Coweta County Development Authority                             Bowersville    Hart        Bowersville Town
   Greene       Middle     Greene Co.                       Greene County, GA N                           Coweta, Fayette, Meriwether Joint Development Authority         Bowman         Elbert      Bowman City
   Gwinnett     Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area Joint Development Authority
                                                                                  Y                       Crisp-Dooly                                                     Braselton      Jackson     Braselton Town
   Habersham    North      Habersham Co.                    Habersham County, GAN                         Dahlonega Downtown Development Authority                        Braswell       Paulding    Braswell Town
   Hall         North      Gainesville                      Gainesville, GA MSA Y                         Development Authority for the City of Savannah                  Bremen         Haralson    Bremen City
   Hancock      Middle     Hancock Co.                      Hancock County, GA N                          Development Authority of Appling County                         Brinson        Decatur     Brinson Town
   Haralson     North      Haralson Co.                     Haralson County, GA HUD Metro FMR Area
                                                                                  Y                       Development Authority of Atkinson County                        Bronwood       Terrell     Bronwood City
   Harris       Middle     Columbus                         Columbus, GA-AL MSA Y                         Development Authority of Bainbridge and Decatur County          Brooklet       Bulloch     Brooklet City
   Hart         Middle     Hart Co.                         Hart County, GA       N                       Development Authority of Baker County                           Brooks         Fayette     Brooks Town
   Heard        Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                       Development Authority of Banks County                           Broxton        Coffee      Broxton City
   Henry        Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                       Development Authority of Bartow County                          Brunswick      Glynn       Brunswick City
   Houston      Middle     Warner Robins                    Warner Robins, GA MSA Y                       Development Authority of Ben Hill County                        Buchanan       Haralson    Buchanan City
   Irwin        South      Irwin Co.                        Irwin County, GA      N                       Development Authority of Bibb County                            Buckhead       Morgan      Buckhead Town
   Jackson      Middle     Jackson Co.                      Jackson County, GA N                          Development Authority of Brooks County, Georgia                 Buena Vista    Marion      Buena Vista City
   Jasper       Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                  Y                       Development Authority of Bulloch County                         Buford         Gwinnett    Buford City
   Jeff Davis   South      Jeff Davis Co.                   Jeff Davis County, GA N                       Development Authority of Burke County                           Butler         Taylor      Butler City
   Jefferson    Middle     Jefferson Co.                    Jefferson County, GA N                        Development Authority of Butts County                           Byromville     Dooly       Byromville Town
   Jenkins      South      Jenkins Co.                      Jenkins County, GA N                          Development Authority of Carroll County                         Byron          Peach       Byron City
   Johnson      South      Johnson Co.                      Johnson County, GA N                          Development Authority of Cartersville                           Cadwell        Laurens     Cadwell Town

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     Georgia Department of Community Affairs                                                                                           2011 Funding Application                                                                                Office of Affordable Housing
                                                  PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

Jones               Middle              Macon                            Macon, GA MSA            Y                     Development Authority of Catoosa County                        Cairo           Grady        Cairo City
Lamar               Middle              Lamar Co.                        Lamar County, GA HUDY     Metro FMR Area       Development Authority of Chattooga County                      Calhoun         Gordon       Calhoun City
Lanier              South               Valdosta                         Valdosta, GA MSA         Y                     Development Authority of Cherokee County                       Camak           Warren       Camak Town
Laurens             South               Laurens Co.                      Laurens County, GA N                           Development Authority of City of Edison, Georgia               Camilla         Mitchell     Camilla City
Lee                 South               Albany                           Albany, GA MSA           Y                     Development Authority of Clayton County                        Canon           Franklin     Canon City
Liberty             South               Hinesville-Fort Stewart                                   Y
                                                                         Hinesville-Fort Stewart, GA HUD Metro FMR Area Development Authority of Cobb County                           Canton          Cherokee     Canton City
Lincoln             Middle              Lincoln Co.                      Lincoln County, GA       N                     Development Authority of Columbia County                       Carl            Barrow       Carl Town
Long                South               Long Co.                         Long County, GA HUD Metro FMR Area
                                                                                                  Y                     Development Authority of Columbus, Georgia                     Carlton         Madison      Carlton City
Lowndes             South               Valdosta                         Valdosta, GA MSA         Y                     Development Authority of Conyers, Georgia                      Carnesville     Franklin     Carnesville City
Lumpkin             North               Lumpkin Co.                      Lumpkin County, GA N                           Development Authority of Coweta County                         Carrollton      Carroll      Carrollton City
Macon               Middle              Macon Co.                        Macon County, GA         N                     Development Authority of Crawford County                       Cartersville    Bartow       Cartersville City
Madison             Middle              Athens-Clarke Co.                Athens-Clarke County, GA MSA
                                                                                                  Y                     Development Authority of Crisp County                          Cave Spring     Floyd        Cave Spring City
Marion              Middle              Columbus                         Columbus, GA-AL MSA Y                          Development Authority of Dawson County                         Cecil           Cook         Cecil City
McDuffie            Middle              Augusta-Richmond Co.             Augusta-Richmond County, GA-SC MSA
                                                                                                  Y                     Development Authority of DeKalb County                         Cedartown       Polk         Cedartown City
McIntosh            South               Brunswick                        Brunswick, GA MSA Y                            Development Authority of Dougherty County                      Centerville     Houston      Centerville Town
Meriwether          Middle              Meriwether Co.                                            HUD
                                                                         Meriwether County, GA Y Metro FMR Area Development Authority of Douglas County                                Centralhatchee Heard         Centralhatchee Town
Miller              South               Miller Co.                       Miller County, GA        N                     Development Authority of Early County                          Chamblee        DeKalb       Chamblee City
Mitchell            South               Mitchell Co.                     Mitchell County, GA N                          Development Authority of Effingham County                      Chatsworth      Murray       Chatsworth City
Monroe              Middle              Monroe Co.                                                Y
                                                                         Monroe County, GA HUD Metro FMR Area                                                                                          Fulton
                                                                                                                        Development Authority of Elbert County, Elberton and Bowman Chattahoochee Hill Country      Chattahoochee Hills City
Montgomery          South               Montgomery Co.                   Montgomery County, GA    N                     Development Authority of Emanuel County                                        Walker
                                                                                                                                                                                       Chattanooga Valley           Census Designated Place
Morgan              Middle              Morgan Co.                       Morgan County, GA N                                                                                           Chauncey
                                                                                                                        Development Authority of Emanuel County and the City of Swainsboro             Dodge        Chauncey City
Murray              North               Murray Co.                       Murray County, GA HUD Metro FMR Area
                                                                                                  Y                     Development Authority of Fairburn                              Chester         Dodge        Chester Town
Muscogee            Middle              Columbus                         Columbus, GA-AL MSA Y                          Development Authority of Floyd County                          Chickamauga Walker           Chickamauga City
Newton              Middle              Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                  Y                     Development Authority of Forsyth County                        Clarkesville    Habersham    Clarkesville City
Oconee              Middle              Athens-Clarke Co.                Athens-Clarke County, GA MSA
                                                                                                  Y                     Development Authority of Fulton County                         Clarkston       DeKalb       Clarkston City
Oglethorpe          Middle              Athens-Clarke Co.                Athens-Clarke County, GA MSA
                                                                                                  Y                     Development Authority of Gordon County                         Claxton         Evans        Claxton City
Paulding            North               Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                  Y                     Development Authority of Gwinnett County                       Clayton         Rabun        Clayton City
Peach               Middle              Peach Co.                        Peach County, GA         N                     Development Authority of Haralson County                       Clermont        Hall         Clermont Town
Pickens             North               Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                  Y                     Development Authority of Harris County                         Cleveland       White        Cleveland City
Pierce              South               Pierce Co.                       Pierce County, GA        N                     Development Authority of Heard County                          Climax          Decatur      Climax City
Pike                Middle              Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                  Y                     Development Authority of Houston County                        Cobbtown        Tattnall     Cobbtown City
Polk                North               Polk Co.                         Polk County, GA          N                     Development Authority of Jasper County                         Cochran         Bleckley     Cochran City
Pulaski             South               Pulaski Co.                      Pulaski County, GA       N                     Development Authority of Jefferson County                      Cohutta         Whitfield    Cohutta City
Putnam              Middle              Putnam Co.                       Putnam County, GA N                            Development Authority of Jefferson, Georgia                    Colbert         Madison      Colbert City
Quitman             South               Quitman Co.                      Quitman County, GA N                           Development Authority of Jenkins County                        Coleman         Randolph     Defunct city govt
Rabun               North               Rabun Co.                        Rabun County, GA         N                     Development Authority of Johnson County, Georgia               College Park Fulton          College Park City
Randolph            South               Randolph Co.                     Randolph County, GA N                          Development Authority of Jones County                          Collins         Tattnall     Collins City
Richmond            Middle              Augusta-Richmond Co.             Augusta-Richmond County, GA-SC MSA
                                                                                                  Y                     Development Authority of LaFayette                             Colquitt        Miller       Colquitt City
Rockdale            Middle              Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                  Y                     Development Authority of LaGrange                              Columbus        Muscogee     Defunct city govt
Schley              Middle              Schley Co.                       Schley County, GA        N                     Development Authority of Lanier County                         Comer           Madison      Comer City
Screven             South               Screven Co.                      Screven County, GA N                           Development Authority of Lawrenceville, GA                     Commerce        Jackson      Commerce City
Select City first   Select City first   Select City first                                                               Development Authority of Lee County                            Concord         Pike         Concord City
Seminole            South               Seminole Co.                     Seminole County, GA N                          Development Authority of Lumpkin County                        Conley          Clayton      Census Designated Place
Spalding            Middle              Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                                                  Y                     Development Authority of Macon County                          Conyers         Rockdale     Conyers City
Stephens            North               Stephens Co.                     Stephens County, GA N                          Development Authority of McDuffie County                       Coolidge        Thomas       Coolidge City
Stewart             South               Stewart Co.                      Stewart County, GA N                                                                                          C
                                                                                                                        Development Authority of McDuffie County and the City of Thomson ordele        Crisp        Cordele City
Sumter              South               Sumter Co.                       Sumter County, GA        N                     Development Authority of Mitchell County                       Corinth         Heard        Defunct city govt
Talbot              Middle              Talbot Co.                       Talbot County, GA        N                     Development Authority of Monroe County                         Cornelia        Habersham    Cornelia City
Taliaferro          Middle              Taliaferro Co.                   Taliaferro County, GA N                        Development Authority of Morgan County                                         Bulloch
                                                                                                                                                                                       Country Club Estates         Census Designated Place
Tattnall            South               Tattnall Co.                     Tattnall County, GA      N                     Development Authority of Palmetto                              Covington       Newton       Covington City
Taylor              Middle              Taylor Co.                       Taylor County, GA        N                     Development Authority of Peach County                          Crawford        Oglethorpe   Crawford City
Telfair             South               Telfair Co.                      Telfair County, GA       N                     Development Authority of Peachtree City                        Crawfordville Taliaferro     Crawfordville City
Terrell             South               Albany                           Albany, GA MSA           Y                     Development Authority of Pike County                           Culloden        Monroe       Culloden City

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    Georgia Department of Community Affairs                                                                            2011 Funding Application                                                                                  Office of Affordable Housing
                                  PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

Thomas       South      Thomas Co.                       Thomas County, GA N                           Development Authority of Polk County                              Cumming       Forsyth         Cumming City
Tift         South      Tift Co.                         Tift County, GA       N                       Development Authority of Rabun County                             Cusseta       Chattahoochee   Defunct city govt
Toombs       South      Toombs Co.                       Toombs County, GA N                           Development Authority of Richmond County                          Cuthbert      Randolph        Cuthbert City
Towns        North      Towns Co.                        Towns County, GA      N                       Development Authority of Rockdale County                          Dacula        Gwinnett        Dacula City
Treutlen     South      Treutlen Co.                     Treutlen County, GA N                         Development Authority of Screven County                           Dahlonega     Lumpkin         Dahlonega City
Troup        Middle     Troup Co.                        Troup County, GA      N                       Development Authority of Seminole County and Donalsonville        Daisy         Evans           Daisy City
Turner       South      Turner Co.                       Turner County, GA     N                       Development Authority of St. Marys                                Dallas        Paulding        Dallas City
Twiggs       Middle     Macon                            Macon, GA MSA         Y                       Development Authority of Talbot County                            Dalton        Whitfield       Dalton City
Union        North      Union Co.                        Union County, GA      N                       Development Authority of Telfair County                           Damascus      Early           Damascus City
Upson        Middle     Upson Co.                        Upson County, GA      N                       Development Authority of the City of Americus                     Danielsville  Madison         Danielsville City
Walker       North      Chattanooga                      Chattanooga, TN-GA MSAY                       Development Authority of the City of Bowdon                       Danville      Wilkinson       Danville Town
Walton       Middle     Atlanta-Sandy Springs-Marietta   Atlanta-Sandy Springs-Marietta, GA HUD Metro FMR Area
                                                                               Y                       Development Authority of the City of Dalton                       Darien        McIntosh        Darien City
Ware         South      Ware Co.                         Ware County, GA       N                       Development Authority of the City of Folkston and Charlton CountyDasher         Lowndes         Dasher City
Warren       Middle     Warren Co.                       Warren County, GA     N                       Development Authority of the City of Homeland                     Davisboro     Washington      Davisboro City
Washington   South      Washington Co.                   Washington County, GAN                        Development Authority of the City of Jasper                       Dawson        Terrell         Dawson City
Wayne        South      Wayne Co.                        Wayne County, GA      N                                                                                         Dawsonville
                                                                                                       Development Authority of the City of Jeffersonville and Twiggs County           Dawson          Dawsonville City
Webster      South      Webster Co.                      Webster County, GA N                          Development Authority of the City of Marietta                     De Soto       Sumter          De Soto City
Wheeler      South      Wheeler Co.                      Wheeler County, GA N                                                                                            Dearing
                                                                                                       Development Authority of the City of Milledgeville and Baldwin County           McDuffie        Dearing Town
White        North      White Co.                        White County, GA      N                       Development Authority of the City of Newnan                       Decatur       DeKalb          Decatur City
Whitfield    North      Dalton                           Dalton, GA HUD Metro FMR Area
                                                                               Y                       Development Authority of the City of Oakwood                      Deenwood      Ware            Census Designated Place
Wilcox       South      Wilcox Co.                       Wilcox County, GA     N                       Development Authority of the City of Roswell                      Deepstep      Washington      Deepstep Town
Wilkes       Middle     Wilkes Co.                       Wilkes County, GA     N                       Development Authority of the City of Vienna                       Demorest      Habersham       Demorest City
Wilkinson    Middle     Wilkinson Co.                    Wilkinson County, GA N                                                                                                        Jeff
                                                                                                       Development Authority of the Unified Government of Athens-ClarkeDenton Georgia Davis
                                                                                                                                                                          County,                      Denton City
Worth        South      Albany                           Albany, GA MSA        Y                       Development Authority of Tift County                              Dexter        Laurens         Dexter Town
                                                                                                       Development Authority of Union County                             Dillard       Rabun           Dillard City
                                                                                                       Development Authority of Vidalia                                  Dock Junction Glynn           Census Designated Place
                                                                                                       Development Authority of Walton County                            Doerun        Colquitt        Doerun City
                                                                                                       Development Authority of Warner Robins                            Donalsonville Seminole        Donalsonville City
                                                                                                       Development Authority of Warren County                            Dooling       Dooly           Dooling Town
                                                                                                       Development Authority of Washington County                        Doraville     DeKalb          Doraville City
                                                                                                       Development Authority of Wheeler County                           Douglas       Coffee          Douglas City
                                                                                                       Development Authority of White County                             Douglasville  Douglas         Douglasville City
                                                                                                       Development Authority of Whitfield County                         Druid Hills   DeKalb          Census Designated Place
                                                                                                       Development Authority of Wilkinson County                         Dublin        Laurens         Dublin City
                                                                                                       Downtown Athens Development Authority                             Dudley        Laurens         Dudley City
                                                                                                       Downtown Camilla Development Authority                            Duluth        Gwinnett        Duluth City
                                                                                                       Downtown Dalton Development Authority                             Dunwoody      DeKalb          Dunwoody City
                                                                                                       Downtown Development Authority for the City of Garden City        DuPont        Clinch          DuPont Town
                                                                                                       Downtown Development Authority for the City of Hahira, Georgia East Dublin      Laurens         East Dublin City
                                                                                                       Downtown Development Authority for the City of Savannah           East Ellijay  Gilmer          East Ellijay City
                                                                                                       Downtown Development Authority for the City of Warner Robins East Griffin       Spalding        Census Designated Place
                                                                                                       Downtown Development Authority of Adel, Georgia                   East Newnan Coweta            Census Designated Place
                                                                                                       Downtown Development Authority of Albany, Georgia                 East Point    Fulton          East Point City
                                                                                                       Downtown Development Authority of Augusta-Richmond County Eastman               Dodge           Eastman City
                                                                                                       Downtown Development Authority of Austell                         Eatonton      Putnam          Eatonton City
                                                                                                       Downtown Development Authority of Avondale Estates                Edgehill      Glascock        Edgehill City
                                                                                                       Downtown Development Authority of Barnesville                     Edison        Calhoun         Edison City
                                                                                                       Downtown Development Authority of Baxley                          Elberton      Elbert          Elberton City
                                                                                                       Downtown Development Authority of Bremen                          Ellaville     Schley          Ellaville City
                                                                                                       Downtown Development Authority of Brunswick                       Ellenton      Colquitt        Ellenton City
                                                                                                       Downtown Development Authority of Centerville                     Ellijay       Gilmer          Ellijay City
                                                                                                       Downtown Development Authority of Chatsworth                      Emerson       Bartow          Emerson City
                                                                                                       Downtown Development Authority of Columbus, Georgia               Enigma        Berrien         Enigma City

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                            PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                            Downtown Development Authority of Cordele                         Ephesus          Heard        Ephesus City
                                                                            Downtown Development Authority of Cuthbert, Georgia               Eton             Murray       Eton City
                                                                            Downtown Development Authority of Douglas                         Euharlee         Bartow       Euharlee City
                                                                            Downtown Development Authority of Fairburn                        Evans            Columbia     Census Designated Place
                                                                            Downtown Development Authority of Fitzgerald                      Experiment       Spalding     Census Designated Place
                                                                            Downtown Development Authority of Forsyth                         Fair Oaks        Cobb         Census Designated Place
                                                                            Downtown Development Authority of Fort Gaines, Georgia            Fairburn         Fulton       Fairburn City
                                                                            Downtown Development Authority of Hampton                         Fairmount        Gordon       Fairmount City
                                                                            Downtown Development Authority of Hartwell, Georgia               Fairview         Walker       Census Designated Place
                                                                            Downtown Development Authority of Hinesville, Georgia             Fargo            Clinch       Fargo City
                                                                            Downtown Development Authority of Holly Springs                   Fayetteville     Fayette      Fayetteville City
                                                                            Downtown Development Authority of Lawrenceville, GA               Fitzgerald       Ben Hill     Fitzgerald City
                                                                            Downtown Development Authority of Madison                         Flemington       Liberty      Flemington City
                                                                            Downtown Development Authority of Maysville                       Flovilla         Butts        Flovilla City
                                                                            Downtown Development Authority of Millen, Georgia                 Flowery Branch Hall           Flowery Branch City
                                                                            Downtown Development Authority of Monticello, Georgia             Folkston         Charlton     Folkston City
                                                                            Downtown Development Authority of Moultrie                        Forest Park      Clayton      Forest Park City
                                                                            Downtown Development Authority of Pitts, Georgia                  Forsyth          Monroe       Forsyth City
                                                                            Downtown Development Authority of Smyrna                          Fort Gaines      Clay         Fort Gaines City
                                                                            Downtown Development Authority of Snellville, Georgia             Fort Oglethorpe Catoosa       Fort Oglethorpe City
                                                                            Downtown Development Authority of Social Circle                   Fort Stewart     Liberty      Census Designated Place
                                                                            Downtown Development Authority of the City of Atlanta             Fort Valley      Peach        Fort Valley City
                                                                            Downtown Development Authority of the City of Baconton            Franklin         Heard        Franklin City
                                                                            Downtown Development Authority of the City of Buford              Franklin Springs Franklin     Franklin Springs City
                                                                            Downtown Development Authority of the City of Canton, Georgia     Funston          Colquitt     Funston City
                                                                            Downtown Development Authority of the City of Dallas, Georgia     Gainesville      Hall         Gainesville City
                                                                            Downtown Development Authority of the City of Darien              Garden City      Chatham      Garden City
                                                                            Downtown Development Authority of the City of Dawson              Garfield         Emanuel      Garfield City
                                                                            Downtown Development Authority of the City of Decatur             Gay              Meriwether   Gay Town
                                                                            Downtown Development Authority of the City of Douglasville        Geneva           Talbot       Geneva Town
                                                                            Downtown Development Authority of the City of Greensboro          Georgetown       Quitman      Defunct city govt
                                                                            Downtown Development Authority of the City of Jackson             Gibson           Glascock     Gibson City
                                                                            Downtown Development Authority of the City of LaFayette           Gillsville       Hall         Gillsville City
                                                                            Downtown Development Authority of the City of LaGrange            Girard           Burke        Girard Town
                                                                            Downtown Development Authority of the City of Locust Grove        Glennville       Tattnall     Glennville City
                                                                            Downtown Development Authority of the City of Monroe              Glenwood         Wheeler      Glenwood City
                                                                            Downtown Development Authority of the City of Morrow, Georgia     Good Hope        Walton       Good Hope City
                                                                            Downtown Development Authority of the City of Newnan, Georgia     Gordon           Wilkinson    Gordon City
                                                                            Downtown Development Authority of the City of Norcross            Graham           Appling      Graham City
                                                                            Downtown Development Authority of the City of Perry               Grantville       Coweta       Grantville City
                                                                            Downtown Development Authority of the City of Richland, Georgia   Gray             Jones        Gray City
                                                                            Downtown Development Authority of the City of Rome                Grayson          Gwinnett     Grayson City
                                                                            Downtown Development Authority of the City of Rossville           Greensboro       Greene       Greensboro City
                                                                            Downtown Development Authority of the City of Roswell             Greenville       Meriwether   Greenville City
                                                                            Downtown Development Authority of the City of Royston             Gresham Park DeKalb           Census Designated Place
                                                                            Downtown Development Authority of the City of Senoia              Griffin          Spalding     Griffin City
                                                                            Downtown Development Authority of the City of Smithville          Grovetown        Columbia     Grovetown City
                                                                            Downtown Development Authority of the City of Tallapoosa          Gum Branch Liberty            Gum Branch City
                                                                            Downtown Development Authority of the City of Thomson             Gumlog           Towns        Census Designated Place
                                                                            Downtown Development Authority of the City of Tifton              Guyton           Effingham    Guyton City
                                                                            Downtown Development Authority of the City of Unadilla            Hagan            Evans        Hagan City
                                                                            Downtown Development Authority of the City of Vienna              Hahira           Lowndes      Hahira City
                                                                            Downtown Development Authority of the City of Warrenton           Hamilton         Harris       Hamilton City

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                            PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                            Downtown Development Authority of the City of Warwick          Hampton        Henry        Hampton City
                                                                            Downtown Development Authority of the City of Zebulon          Hannahs Mill   Upson        Census Designated Place
                                                                            Downtown Development Authority of the Mayor and City Council ofHapeville
                                                                                                                                            Americus      Fulton       Hapeville City
                                                                            Downtown Development Authority of Toccoa                       Haralson       Coweta       Haralson Town
                                                                            Downtown Development Authority of Woodbury                     Harlem         Columbia     Harlem City
                                                                            Downtown Development Authority of Woodstock                    Harrison       Washington   Harrison Town
                                                                            Downtown Development Authority, City of Forest Park            Hartwell       Hart         Hartwell City
                                                                            Downtown LaGrange Development Authority                        Hawkinsville   Pulaski      Hawkinsville City
                                                                            Downtown Marietta Development Authority                        Hazlehurst     Jeff Davis   Hazlehurst City
                                                                            Downtown Savannah Authority                                    Helen          White        Helen City
                                                                            Downtown Statesboro Development Authority                      Helena         Telfair      Helena City
                                                                            Downtown Waycross Development Authority                        Hephzibah      Richmond     Hephzibah City
                                                                            Dublin-Laurens County Development Authority                    Hiawassee      Towns        Hiawassee City
                                                                            Elbert County Richard B. Russell Development Authority         Higgston       Montgomery   Higgston Town
                                                                                                                                           Hilltop
                                                                            Elberton Downtown Development Authority d/b/a MainStreet Elberton             Pike         Census Designated Place
                                                                            Emanuel County Development Authority                           Hiltonia       Screven      Hiltonia City
                                                                            Emanuel-Johnson County Development Authority                   Hinesville     Liberty      Hinesville City
                                                                            Etowah Area Consolidated Housing Authority                     Hiram          Paulding     Hiram City
                                                                            Fairburn Housing Authority                                     Hoboken        Brantley     Hoboken City
                                                                            Fall Line Regional Development Authority                       Hogansville    Troup        Hogansville City
                                                                            Fayette County Development Authority                           Holly Springs  Cherokee     Holly Springs City
                                                                            Fitzgerald/Ben Hill County Development Authority               Homeland       Charlton     Homeland City
                                                                            Flint Area Consolidated Housing Authority                      Homer          Banks        Homer Town
                                                                            Fort Oglethorpe Downtown Development Authority                 Homerville     Clinch       Homerville City
                                                                            Fort Valley Downtown Development Authority                     Hoschton       Jackson      Hoschton City
                                                                            Fulton County/City of Atlanta Land Bank Authority, Inc.        Hull           Madison      Hull Town
                                                                            Gainesville and Hall County Development Authority              Ideal          Macon        Ideal City
                                                                            Gainesville Redevelopment Authority                            Ila            Madison      Ila City
                                                                            Georgia Bioscience Joint Development Authority                 Indian Springs Catoosa      Census Designated Place
                                                                            Gibson Housing Authority                                       Iron City      Seminole     Iron City
                                                                            Glennville Development Authority                               Irondale       Clayton      Census Designated Place
                                                                            Glennville Downtown Development Authority                      Irwinton       Wilkinson    Irwinton City
                                                                            Gordon County - Floyd County Development Authority             Isle of Hope   Chatham      Census Designated Place
                                                                            Gordon Downtown Development Authority                          Ivey           Wilkinson    Ivey City
                                                                            Grady County Joint Development Authority                       Jackson        Butts        Jackson City
                                                                            Greene County Development Authority                            Jacksonville   Telfair      Jacksonville City
                                                                            Griffin-Spalding County Development Authority                  Jakin          Early        Jakin City
                                                                            Habersham County Development Authority                         Jasper         Pickens      Jasper City
                                                                            Hapeville Development Authority                                Jefferson      Jackson      Jefferson City
                                                                            Hawkinsville Downtown Development Authority                    Jeffersonville Twiggs       Jeffersonville City
                                                                            Hawkinsville Housing Authority                                 Jenkinsburg    Butts        Jenkinsburg Town
                                                                            Hazlehurst Downtown Development Authority                      Jersey         Walton       Jersey City
                                                                            Henry County Development Authority                             Jesup          Wayne        Jesup City
                                                                            Hogansville Development Authority                              Johns Creek    Fulton       Johns Creek City
                                                                            Housing Authority City of Sylvester, GA                        Jonesboro      Clayton      Jonesboro City
                                                                            Housing Authority of City of Carrollton                        Junction City Talbot        Junction City
                                                                            Housing Authority of City of Danielsville                      Kennesaw       Cobb         Kennesaw City
                                                                            Housing Authority of Clayton County                            Keysville      Burke        Keysville City
                                                                            Housing Authority of Cobb County                               Kings Bay Base Camden       Census Designated Place
                                                                            Housing Authority of Columbus, Georgia                         Kingsland      Camden       Kingsland City
                                                                            Housing Authority of Fulton County                             Kingston       Bartow       Kingston City
                                                                            Housing Authority of Gwinnett County                           Kite           Johnson      Kite City
                                                                            Housing Authority of Lee County                                LaFayette      Walker       LaFayette City

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                            PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                            Housing Authority of Savannah                               LaGrange       Troup        LaGrange City
                                                                            Housing Authority of Screven County                         Lake City      Clayton      Lake City
                                                                            Housing Authority of the City of Acworth                    Lake Park      Lowndes      Lake Park City
                                                                            Housing Authority of the City of Adel, Georgia              Lakeland       Lanier       Lakeland City
                                                                            Housing Authority of the City of Alamo                      Lakeview       Catoosa      Census Designated Place
                                                                            Housing Authority of the City of Albany                                    Rockdale
                                                                                                                                        Lakeview Estates            Census Designated Place
                                                                            Housing Authority of the City of Ashburn                    Lavonia        Franklin     Lavonia City
                                                                            Housing Authority of the City of Athens, Georgia            Lawrenceville Gwinnett      Lawrenceville City
                                                                            Housing Authority of the City of Augusta, Georgia           Leary          Calhoun      Leary City
                                                                            Housing Authority of the City of Bainbridge                 Leesburg       Lee          Leesburg City
                                                                            Housing Authority of the City of Baxley                     Lenox          Cook         Lenox Town
                                                                            Housing Authority of the City of Blackshear                 Leslie         Sumter       Leslie City
                                                                            Housing Authority of the City of Blakely, Georgia           Lexington      Oglethorpe   Lexington City
                                                                            Housing Authority of the City of Buford, Georgia            Lilburn        Gwinnett     Lilburn City
                                                                            Housing Authority of the City of Cairo, Georgia             Lilly          Dooly        Lilly City
                                                                            Housing Authority of the City of Calhoun                    Lincoln Park   Upson        Census Designated Place
                                                                            Housing Authority of the City of Camilla                    Lincolnton     Lincoln      Lincolnton City
                                                                            Housing Authority of the City of Canton                     Linwood        Walker       Defunct city govt
                                                                            Housing Authority of the City of Cave Spring                Lithia Springs Douglas      Defunct city govt
                                                                            Housing Authority of the City of Cedartown, Ga.             Lithonia       DeKalb       Lithonia City
                                                                            Housing Authority of the City of Clarkesville, Ga.          Locust Grove Henry          Locust Grove City
                                                                            Housing Authority of the City of Clarkston                  Loganville     Walton       Loganville City
                                                                            Housing Authority of the City of Clayton, Georgia           Lone Oak       Meriwether   Lone Oak Town
                                                                            Housing Authority of the City of Cleveland, Ga.                            W
                                                                                                                                        Lookout Mountain alker      Lookout Mountain City
                                                                            Housing Authority of the City of College Park               Louisville     Jefferson    Louisville City
                                                                            Housing Authority of the City of Colquitt                   Lovejoy        Clayton      Lovejoy City
                                                                            Housing Authority of the City of Conyers                    Ludowici       Long         Ludowici City
                                                                            Housing Authority of the City of Cornelia, Ga.              Lula           Hall         Lula City
                                                                            Housing Authority of the City of Covington                  Lumber City    Telfair      Lumber City
                                                                            Housing Authority of the City of Crawfordville              Lumpkin        Stewart      Lumpkin City
                                                                            Housing Authority of the City of Cumming                    Luthersville   Meriwether   Luthersville Town
                                                                            Housing Authority of the City of Cuthbert, GA               Lyerly         Chattooga    Lyerly Town
                                                                            Housing Authority of the City of Dahlonega                  Lyons          Toombs       Lyons City
                                                                            Housing Authority of the City of Dawson                     Mableton       Cobb         Census Designated Place
                                                                            Housing Authority of the City of Decatur, Georgia           Macon          Bibb         Macon City
                                                                            Housing Authority of the City of Doerun, Georgia            Madison        Morgan       Madison City
                                                                            Housing Authority of the City of Dublin, Georgia            Manassas       Tattnall     Manassas City
                                                                            Housing Authority of the City of East Point, Georgia        Manchester     Meriwether   Manchester City
                                                                            Housing Authority of the City of Eastman                    Mansfield      Newton       Mansfield City
                                                                            Housing Authority of the City of Eatonton                   Marietta       Cobb         Marietta City
                                                                            Housing Authority of the City of Edison, GA.                Marshallville  Macon        Marshallville City
                                                                            Housing Authority of the City of Ellaville                  Martin         Stephens     Martin Town
                                                                            Housing Authority of the City of Ellijay, Georgia           Martinez       Columbia     Census Designated Place
                                                                            Housing Authority of the City of Fitzgerald                 Maxeys         Oglethorpe   Maxeys Town
                                                                            Housing Authority of the City of Forsyth                    Maysville      Banks        Maysville Town
                                                                            Housing Authority of the City of Fort Gaines                McCaysville    Fannin       McCaysville City
                                                                            Housing Authority of the City of Fort Oglethorpe, Georgia   McDonough      Henry        McDonough City
                                                                            Housing Authority of the City of Fort Valley                McIntyre       Wilkinson    McIntyre Town
                                                                            Housing Authority of the City of Gainesville                McRae          Telfair      McRae City
                                                                            Housing Authority of the City of Glennville                 Meansville     Pike         Meansville City
                                                                            Housing Authority of the City of Glenwood                   Meigs          Thomas       Meigs City
                                                                            Housing Authority of the City of Grantville                 Menlo          Chattooga    Menlo City
                                                                            Housing Authority of the City of Greensboro, Georgia        Metter         Candler      Metter City

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                            PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                            Housing Authority of the City of Griffin                    Midville          Burke        Midville City
                                                                            Housing Authority of the City of Hahira, Georgia            Midway            Liberty      Midway City
                                                                            Housing Authority of the City of Hampton, Georgia           Milan             Telfair      Milan City
                                                                            Housing Authority of the City of Harlem, Georgia            Milledgeville     Baldwin      Milledgeville City
                                                                            Housing Authority of the City of Hartwell                   Millen            Jenkins      Millen City
                                                                            Housing Authority of the City of Hinesville, Ga             Milner            Lamar        Milner City
                                                                            Housing Authority of the City of Hogansville                Milton            Fulton       Milton City
                                                                            Housing Authority of the City of Jasper                     Mineral Bluff     Fannin       Defunct city govt
                                                                            Housing Authority of the City of Jefferson                  Mitchell          Glascock     Mitchell Town
                                                                            Housing Authority of the City of Jesup                      Molena            Pike         Molena City
                                                                            Housing Authority of the City of Lakeland, Georgia          Monroe            Walton       Monroe City
                                                                            Housing Authority of the City of Lavonia                    Montezuma         Macon        Montezuma City
                                                                            Housing Authority of the City of Lawrenceville, GA          Montgomery        Chatham      Census Designated Place
                                                                            Housing Authority of the City of Lithonia, Georgia          Monticello        Jasper       Monticello City
                                                                            Housing Authority of the City of Loganville, GA             Montrose          Laurens      Montrose Town
                                                                            Housing Authority of the City of Louisville                 Moody AFB         Lowndes      Census Designated Place
                                                                            Housing Authority of the City of Macon, Georgia             Moreland          Coweta       Moreland Town
                                                                            Housing Authority of the City of Madison, GA                Morgan            Calhoun      Morgan City
                                                                            Housing Authority of the City of Marietta                   Morganton         Fannin       Morganton City
                                                                            Housing Authority of the City of McDonough                  Morrow            Clayton      Morrow City
                                                                            Housing Authority of the City of Menlo, Georgia             Morven            Brooks       Morven City
                                                                            Housing Authority of the City of Metter                     Moultrie          Colquitt     Moultrie City
                                                                            Housing Authority of the City of Milledgeville and Sparta   Mount Airy        Habersham    Mount Airy Town
                                                                            Housing Authority of the City of Millen                     Mount Vernon Montgomery        Mount Vernon City
                                                                            Housing Authority of the City of Monroe, GA                 Mount Zion        Carroll      Mount Zion City
                                                                            Housing Authority of the City of Monticello                 Mountain City Rabun            Mountain City
                                                                            Housing Authority of the City of Moultrie, Georgia          Mountain Park Fulton           Mountain Park City
                                                                            Housing Authority of the City of Mt. Vernon                 Mountain Park Fulton           Census Designated Place
                                                                            Housing Authority of the City of Nahunta                    Nahunta           Brantley     Nahunta City
                                                                            Housing Authority of the City of Nashville, Georgia         Nashville         Berrien      Nashville City
                                                                            Housing Authority of the City of Oakwood, Georgia           Naylor            Lowndes      Defunct city govt
                                                                            Housing Authority of the City of Ocilla, Ga                 Nelson            Pickens      Nelson City
                                                                            Housing Authority of the City of Pearson, Georgia           Newborn           Newton       Newborn Town
                                                                            Housing Authority of the City of Perry, Georgia             Newington         Screven      Newington Town
                                                                            Housing Authority of the City of Quitman                    Newnan            Coweta       Newnan City
                                                                            Housing Authority of the City of Ringgold                   Newton            Baker        Newton City
                                                                            Housing Authority of the City of Roberta, GA.               Nicholls          Coffee       Nicholls City
                                                                            Housing Authority of the City of Roswell                    Nicholson         Jackson      Nicholson Town
                                                                            Housing Authority of the City of Royston                    Norcross          Gwinnett     Norcross City
                                                                            Housing Authority of the City of Sandersville               Norman Park Colquitt           Norman Park City
                                                                            Housing Authority of the City of Senoia                     North Atlanta DeKalb           Census Designated Place
                                                                            Housing Authority of the City of Shellman                   North Decatur DeKalb           Census Designated Place
                                                                            Housing Authority of the City of Social Circle, GA          North Druid Hills DeKalb       Census Designated Place
                                                                            Housing Authority of the City of Soperton                   North High Shoals Oconee       North High Shoals Town
                                                                            Housing Authority of the City of Statesboro                 Norwood           Warren       Norwood City
                                                                            Housing Authority of the City of Summerville                Nunez             Emanuel      Nunez City
                                                                            Housing Authority of the City of Swainsboro                 Oak Park          Emanuel      Oak Park Town
                                                                            Housing Authority of the City of Sylvania                   Oakwood           Hall         Oakwood City
                                                                            Housing Authority of the City of Tallapoosa, Georgia        Ochlocknee        Thomas       Ochlocknee Town
                                                                            Housing Authority of the City of Thomaston                  Ocilla            Irwin        Ocilla City
                                                                            Housing Authority of the City of Thomasville, Georgia       Oconee            Washington   Oconee City
                                                                            Housing Authority of the City of Thomson, Georgia           Odum              Wayne        Odum City
                                                                            Housing Authority of the City of Tifton, Georgia            Offerman          Pierce       Offerman City

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Georgia Department of Community Affairs                                                    2011 Funding Application                                                                                      Office of Affordable Housing
                            PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                            Housing Authority of the City of Toccoa, Ga.                        Oglethorpe     Macon       Oglethorpe City
                                                                            Housing Authority of the City of Vidalia                            Oliver         Screven     Oliver City
                                                                            Housing Authority of the City of Vienna                             Omaha          Stewart     Defunct city govt
                                                                            Housing Authority of the City of Warner Robins, Georgia             Omega          Tift        Omega City
                                                                            Housing Authority of the City of Warrenton                          Orchard Hill   Spalding    Orchard Hill Town
                                                                            Housing Authority of the City of Waycross                           Oxford         Newton      Oxford City
                                                                            Housing Authority of the City of Waynesboro                         Palmetto       Fulton      Palmetto City
                                                                            Housing Authority of the City of West Point                         Panthersville DeKalb       Census Designated Place
                                                                            Housing Authority of the City of Winder                             Parrott        Terrell     Parrott Town
                                                                            Housing Authority of the City of Woodbury, Georgia                  Patterson      Pierce      Patterson City
                                                                            Housing Authority of the City of Wrightsville                       Pavo           Thomas      Pavo City
                                                                            Housing Authority of the County of Atkinson, Georgia                Payne City     Bibb        Payne City
                                                                            Housing Authority of the County of DeKalb, Georgia                  Peachtree City Fayette     Peachtree City
                                                                            Housing Authority of the County of Harris                           Pearson        Atkinson    Pearson City
                                                                            Housing Authority of the County of Houston, Georgia                 Pelham         Mitchell    Pelham City
                                                                            Housing Authority of the Town of Homer, Ga.                         Pembroke       Bryan       Pembroke City
                                                                            Houston County Development Authority                                Pendergrass Jackson        Pendergrass Town          CDP Name        CDP County   CDP
                                                                            Ideal Downtown Development Authority                                Perry          Houston     Perry City                Belvedere Park DeKalb        Census Designated Place
                                                                            Jackson Housing Authority                                           Phillipsburg   Tift        Census Designated Place   Blacksville     Henry        Census Designated Place
                                                                            Jenkins County Development Authority                                Pine Lake      DeKalb      Pine Lake City            Bonanza         Clayton      Census Designated Place
                                                                                                                                                Pine Mountain Harris
                                                                            Joint Development Authority of Baker, Dougherty, Terrell, and Lee Counties                     Pine Mountain Town        Candler-McAfee               Census Designated Place
                                                                            Joint Development Authority of Bartow County and Pickens CountyPinehurst           Dooly       Pinehurst City                            Walker
                                                                                                                                                                                                     Chattanooga Valley           Census Designated Place
                                                                                                                                                Pineview       Wilcox
                                                                            Joint Development Authority of Brooks, Colquitt, Grady, Mitchell, and Thomas Counties          Pineview Town             Conley          Clayton      Census Designated Place
                                                                            Joint Development Authority of Burke County and City of Waynesboro  Pitts          Wilcox      Pitts City                                Bulloch
                                                                                                                                                                                                     Country Club Estates         Census Designated Place
                                                                                                                                                Plains
                                                                            Joint Development Authority of Carroll, Haralson, Polk, Heard and Troup Counties Sumter        Plains City               Deenwood        Ware         Census Designated Place
                                                                                                                                                Plainville
                                                                            Joint Development Authority of Fannin County, Towns County and Union County Gordon             Plainville City           Dock Junction Glynn          Census Designated Place
                                                                            Joint Development Authority of Franklin, Hart and Stephens Counties Pooler         Chatham     Pooler City               Druid Hills     DeKalb       Census Designated Place
                                                                            Joint Development Authority of Hazlehurst, Lumber City and TelfairPort Wentworth Chatham
                                                                                                                                                County                     Port Wentworth City       East Griffin    Spalding     Census Designated Place
                                                                                                                                                Portal
                                                                            Joint Development Authority of Jasper, Morgan, Newton, and Walton Counties         Bulloch     Portal Town               East Newnan Coweta           Census Designated Place
                                                                                                                                                Porterdale
                                                                            Joint Development Authority of Jeff Davis County, Hazlehurst and Denton, Georgia Newton        Porterdale Town           Evans           Columbia     Census Designated Place
                                                                            Joint Development Authority of Metropolitan Atlanta                 Poulan         Worth       Poulan City               Experiment      Spalding     Census Designated Place
                                                                            Joint Development Authority of Northeast Georgia                    Powder Springs Cobb        Powder Springs City       Fair Oaks       Cobb         Census Designated Place
                                                                            Joint Development Authority of Winder-Barrow County                 Preston        Webster     Defunct city govt         Fairview        Walker       Census Designated Place
                                                                            Kennesaw Development Authority                                      Pulaski        Candler     Pulaski Town              Fort Stewart    Liberty      Census Designated Place
                                                                            Kennesaw Downtown Development Authority                             Putney         Dougherty   Census Designated Place   Georgetown      Quitman      Census Designated Place
                                                                            Kingsland Development Authority                                     Quitman        Brooks      Quitman City              Gresham Park DeKalb          Census Designated Place
                                                                            Kingsland Downtown Development Authority                            Ranger         Gordon      Ranger Town               Gumlog          Towns        Census Designated Place
                                                                            Kingston Downtown Development Authority                             Raoul          Habersham   Census Designated Place   Hannahs Mill    Upson        Census Designated Place
                                                                            LaFayette Housing Authority                                         Ray City       Berrien     Ray City                  Hilltop         Pike         Census Designated Place
                                                                            LaGrange Development Authority                                      Rayle          Wilkes      Rayle Town                Indian Springs Catoosa       Census Designated Place
                                                                            Lake Oconee Area Development Authority                              Rebecca        Turner      Rebecca Town              Irondale        Clayton      Census Designated Place
                                                                            Laurens-Treutlen Joint Development Authority                        Redan          DeKalb      Census Designated Place   Isle of Hope    Chatham      Census Designated Place
                                                                            Lavonia Downtown Development Authority                              Reed Creek     Hart        Census Designated Place   Kings Bay Base Camden        Census Designated Place
                                                                            Lincoln County Development Authority                                Register       Bulloch     Register Town             Lakeview        Catoosa      Census Designated Place
                                                                            Long County Housing Authority                                       Reidsville     Tattnall    Reidsville City           Lakeview EstatesRockdale     Census Designated Place
                                                                            Lyons Downtown Development Authority                                Remerton       Lowndes     Remerton City             Lincoln Park    Upson        Census Designated Place
                                                                            Macon-Bibb County Urban Development Authority                       Rentz          Laurens     Rentz City                Lithia Springs Douglas       Census Designated Place
                                                                            Marion County Development Authority                                 Resaca         Gordon      Resaca Town               Mableton        Cobb         Census Designated Place
                                                                            Middle Coastal Unified Development Authority                        Rest Haven     Gwinnett    Rest Haven City           Martinez        Columbia     Census Designated Place
                                                                            Middle Georgia Regional Development Authority                       Reynolds       Taylor      Reynolds City             Midway-Hardwick              Census Designated Place
                                                                                                                                                Rhine          Dodge
                                                                            Milledgeville MainStreet/The Downtown Development Authority of the City of Milledgeville       Rhine Town                Montgomery      Chatham      Census Designated Place
                                                                            Miller County Development Authority                                 Riceboro       Liberty     Riceboro City             Moody AFB       Lowndes      Census Designated Place
                                                                            Mitchell County Development Authority                               Richland       Stewart     Richland City             Mountain Park Fulton         Census Designated Place

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                            PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                            Montezuma Downtown Development Authority                         Richmond Hill Bryan                  Richmond Hill City        North Atlanta     DeKalb      Census Designated Place
                                                                            Montgomery County Development Authority                          Riddleville      Washington          Riddleville Town          North Decatur DeKalb          Census Designated Place
                                                                            Moultrie-Colquitt County Development Authority                   Rincon           Effingham           Rincon City               North Druid Hills DeKalb      Census Designated Place
                                                                            Nashville Downtown Development Authority                         Ringgold         Catoosa             Ringgold City             Panthersville     DeKalb      Census Designated Place
                                                                            Northeast Georgia Housing Authority                              Riverdale        Clayton             Riverdale City            Phillipsburg      Tift        Census Designated Place
                                                                            Northwest Georgia Housing Authority                              Riverside        Colquitt            Riverside Town            Putney            Dougherty   Census Designated Place
                                                                            Northwest Georgia Joint Development Authority                    Roberta          Crawford            Roberta City              Raoul             Habersham   Census Designated Place
                                                                            Ocmulgee Regional Joint Development Authority                    Robins AFB       Houston             Census Designated Place   Redan             DeKalb      Census Designated Place
                                                                            Oglethorpe Development Authority                                 Rochelle         Wilcox              Rochelle City             Reed Creek        Hart        Census Designated Place
                                                                            Okefenokee Area Development Authority                            Rockmart         Polk                Rockmart City             Robins AFB        Houston     Census Designated Place
                                                                            Palmetto Housing Authority                                       Rocky Ford       Screven             Rocky Ford City           Russell           Barrow      Census Designated Place
                                                                            Pelham Housing Authority                                         Rome             Floyd               Rome City                 St. Simons        Glynn       Census Designated Place
                                                                            Pooler Development Authority                                     Roopville        Carroll             Roopville Town            Salem             Catoosa     Census Designated Place
                                                                            Port Wentworth Downtown Development Authority                    Rossville        Walker              Rossville City            Scottdale         DeKalb      Census Designated Place
                                                                            Powder Springs Downtown Development Authority                    Roswell          Fulton              Roswell City              Shannon           Floyd       Census Designated Place
                                                                            Pulaski County-Hawkinsville Development Authority                Royston          Franklin            Royston City              Skidaway Island Chatham       Census Designated Place
                                                                            Putnam Development Authority                                     Russell          Barrow              Defunct city govt         Sunnyside         Towns       Census Designated Place
                                                                            Randolph County Development Authority                            Russell          Barrow              Census Designated Place   Sunset Village Upson          Census Designated Place
                                                                            Redevelopment Authority of Clayton County                        Rutledge         Morgan              Rutledge City             Tucker            DeKalb      Census Designated Place
                                                                            Rochelle Housing Authority                                       Sale City        Mitchell            Sale City                 Unionville        Tift        Census Designated Place
                                                                            Rockmart Development Authority                                   Salem            Catoosa             Census Designated Place   Vinings           Cobb        Census Designated Place
                                                                            Rome-Floyd County Development Authority                          Sandersville     Washington          Sandersville City                           C
                                                                                                                                                                                                            Whitemarsh Island hatham      Census Designated Place
                                                                            Sandersville Downtown Development Authority                      Sandy Springs Fulton                 Sandy Springs City        Wilmington IslandChatham      Census Designated Place
                                                                            Sardis Development Authority                                     Santa Claus      Toombs              Santa Claus City
                                                                            Schley-Sumter-Macon Counties Joint Development Authority         Sardis           Burke               Sardis City
                                                                            Screven County Development Authority                             Sasser           Terrell             Sasser Town
                                                                            Smyrna Housing Authority                                         Savannah         Chatham             Savannah City
                                                                            Social Circle Development Authority                              Scotland         Telfair             Scotland City
                                                                            South Georgia Business and Development Authority                 Scottdale        DeKalb              Census Designated Place
                                                                            Southeast Georgia Consolidated Housing Authority                 Screven          Wayne               Screven City
                                                                            Southeast Georgia Joint Development Authority                    Select from list Select City first
                                                                            Southeast Georgia Regional Development Authority                 Senoia           Coweta              Senoia City
                                                                            Southwest Georgia Joint Development Authority                    Shady Dale       Jasper              Shady Dale City
                                                                            Sparta-Hancock County Development Authority                      Shannon          Floyd               Census Designated Place
                                                                            St. Marys Downtown Development Authority                         Sharon           Taliaferro          Sharon City
                                                                            Stephens County Development Authority                            Sharpsburg       Coweta              Sharpsburg Town
                                                                            Suwanee Downtown Development Authority                           Shellman         Randolph            Shellman City
                                                                            Tallapoosa Development Authority                                 Shiloh           Harris              Shiloh City
                                                                            Tattnall County Development Authority                            Siloam           Greene              Siloam Town
                                                                            Taylor County Development Authority                              Skidaway Island Chatham              Census Designated Place
                                                                            Temple Downtown Development Authority                            Sky Valley       Rabun               Sky Valley City
                                                                            Terrell County Development Authority                             Smithville       Lee                 Smithville City
                                                                            The Commerce Housing Authority                                   Smyrna           Cobb                Smyrna City
                                                                            The Development Authority of Long County                         Snellville       Gwinnett            Snellville City
                                                                            The Development Authority of Pickens County                      Social Circle    Walton              Social Circle City
                                                                            The Development Authority of Snellville, Georgia                 Soperton         Treutlen            Soperton City
                                                                            The Development Authority of the City of Camilla                 Sparks           Cook                Sparks Town
                                                                            The Development Authority of the City of Manchester              Sparta           Hancock             Sparta City
                                                                            The Development Authority of the City of Tallapoosa              Springfield      Effingham           Springfield City
                                                                            The Downtown Development Authority of Bainbridge, Georgia        St. Marys        Camden              St. Marys City
                                                                                                                                             St.
                                                                            The Downtown Development Authority of the City of Griffin, Georgia Simons         Glynn               Census Designated Place
                                                                            The Housing Authority of the City of Americus, GA                Stapleton        Jefferson           Stapleton City
                                                                            The Housing Authority of the City of Atlanta, Georgia            Statesboro       Bulloch             Statesboro City

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Georgia Department of Community Affairs                                                     2011 Funding Application                                                                                    Office of Affordable Housing
                            PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                            The Housing Authority of the City of Brunswick, Georgia             Statham          Barrow       Statham City
                                                                            The Housing Authority of the City of Dallas, Georgia                Stillmore        Emanuel      Stillmore City
                                                                            The Housing Authority of the City of Newnan                         Stockbridge      Henry        Stockbridge City
                                                                            The Housing Authority of the City of Washington                     Stone Mountain   DeKalb       Stone Mountain City
                                                                            Thomaston Downtown Development Authority                            Sugar Hill       Gwinnett     Sugar Hill City
                                                                            Thomasville Downtown Development Authority                          Summertown       Emanuel      Summertown City
                                                                            Tift County Development Authority                                   Summerville      Chattooga    Summerville City
                                                                            Tift-Turner-Worth-Cook Joint Development Authority                  Sumner           Worth        Sumner Town
                                                                            Toombs County Development Authority                                 Sunny Side       Spalding     Sunny Side City
                                                                            Treutlen County Development Authority                               Sunnyside        Towns        Census Designated Place
                                                                            Troup County Development Authority                                  Sunset Village   Upson        Census Designated Place
                                                                            Turner County Development Authority                                 Surrency         Appling      Surrency Town
                                                                            Union City Housing Authority                                        Suwanee          Gwinnett     Suwanee City
                                                                            Urban Redevelopment Agency of Clayton County, Georgia               Swainsboro       Emanuel      Swainsboro City
                                                                            Urban Redevelopment Agency of the City of Canton                    Sycamore         Turner       Sycamore City
                                                                            Urban Redevelopment Agency of the City of Dallas                    Sylvania         Screven      Sylvania City
                                                                            Urban Redevelopment Agency of the City of Duluth                    Sylvester        Worth        Sylvester City
                                                                            Urban Redevelopment Agency of the City of Kennesaw, Georgia Talbotton                Talbot       Talbotton City
                                                                            Urban Redevelopment Authority of the City of Suwanee                Talking Rock     Pickens      Talking Rock Town
                                                                            Urban Residential Finance Authority of the City of Atlanta, Georgia Tallapoosa       Haralson     Tallapoosa City
                                                                            Valdosta Housing Authority                                          Tallulah Falls   Habersham    Tallulah Falls Town
                                                                            Valley Partnership Joint Development Authority                      Talmo            Jackson      Talmo Town
                                                                            Vidalia Development Authority                                       Tarrytown        Montgomery   Tarrytown City
                                                                            Villa Rica Downtown Development Authority                           Taylorsville     Bartow       Taylorsville Town
                                                                            Walker County Development Authority                                 Temple           Carroll      Temple City
                                                                            Waycross and Ware County Development Authority                      Tennille         Washington   Tennille City
                                                                            West Central Georgia Joint Development Authority                    The Rock         Upson        Defunct city govt
                                                                            West Georgia Joint Development Authority                            Thomaston        Upson        Thomaston City
                                                                            West Point Development Authority                                    Thomasville      Thomas       Thomasville City
                                                                            West Point Lake Development Authority                               Thomson          McDuffie     Thomson City
                                                                            Winder Downtown Development Authority                               Thunderbolt      Chatham      Thunderbolt Town
                                                                            Woodbine Downtown Development Authority                             Tifton           Tift         Tifton City
                                                                                                                                                Tiger            Rabun        Tiger Town
                                                                                                                                                Tignall          Wilkes       Tignall Town
                                                                                                                                                Toccoa           Stephens     Toccoa City
                                                                                                                                                Toomsboro        Wilkinson    Toomsboro City
                                                                                                                                                Trenton          Dade         Trenton City
                                                                                                                                                Trion            Chattooga    Trion Town
                                                                                                                                                Tucker           DeKalb       Census Designated Place
                                                                                                                                                Tunnell Hill     Whitfield    Tunnel Hill City
                                                                                                                                                Turin            Coweta       Turin Town
                                                                                                                                                Twin City        Emanuel      Twin City
                                                                                                                                                Ty Ty            Tift         Ty Ty City
                                                                                                                                                Tybee Island     Chatham      Tybee Island City
                                                                                                                                                Tyrone           Fayette      Tyrone Town
                                                                                                                                                Unadilla         Dooly        Unadilla City
                                                                                                                                                Union City       Fulton       Union City
                                                                                                                                                Union Point      Greene       Union Point City
                                                                                                                                                Unionville       Tift         Census Designated Place
                                                                                                                                                Uvalda           Montgomery   Uvalda City
                                                                                                                                                Valdosta         Lowndes      Valdosta City
                                                                                                                                                Varnell          Whitfield    Varnell City
                                                                                                                                                Vernonburg       Chatham      Vernonburg Town

ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                             Part I-Project Information                                                                                                  27 of 88
Georgia Department of Community Affairs                                                2011 Funding Application                                                                                   Office of Affordable Housing
                            PART ONE - PROJECT INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                                                                         Vidalia         Toombs           Vidalia City
                                                                                                                         Vidette         Burke            Defunct city govt
                                                                                                                         Vienna          Dooly            Vienna City
                                                                                                                         Villa Rica      Carroll          Villa Rica City
                                                                                                                         Vinings         Cobb             Census Designated Place
                                                                                                                         Waco            Haralson         Waco Town
                                                                                                                         Wadley          Jefferson        Wadley City
                                                                                                                         Waleska         Cherokee         Waleska City
                                                                                                                         Walnut Grove Walton              Walnut Grove City
                                                                                                                         Walthourville Liberty            Walthourville City
                                                                                                                         Warm Springs Meriwether          Warm Springs City
                                                                                                                         Warner Robins Houston            Warner Robins City
                                                                                                                         Warrenton       Warren           Warrenton City
                                                                                                                         Warwick         Worth            Warwick City
                                                                                                                         Washington      Wilkes           Washington City
                                                                                                                         Watkinsville    Oconee           Watkinsville City
                                                                                                                         Waverly Hall    Harris           Waverly Hall Town
                                                                                                                         Waycross        Ware             Waycross City
                                                                                                                         Waynesboro Burke                 Waynesboro City
                                                                                                                         West Point      Troup            West Point City
                                                                                                                         Weston          Webster          Defunct city govt
                                                                                                                         Whigham         Grady            Whigham City
                                                                                                                         White           Bartow           White City
                                                                                                                         White Plains    Greene           White Plains City
                                                                                                                                         Chatham
                                                                                                                         Whitemarsh Island                Census Designated Place
                                                                                                                         Whitesburg      Carroll          Whitesburg City
                                                                                                                         Willacoochee Atkinson            Willacoochee City
                                                                                                                         Williamson      Pike             Williamson City
                                                                                                                                         C
                                                                                                                         Wilmington Island hatham         Census Designated Place
                                                                                                                         Winder          Barrow           Winder City
                                                                                                                         Winterville     Clarke           Winterville City
                                                                                                                         Woodbine        Camden           Woodbine City
                                                                                                                         Woodbury        Meriwether       Woodbury City
                                                                                                                         Woodland        Talbot           Woodland City
                                                                                                                         Woodstock       Cherokee         Woodstock City
                                                                                                                         Woodville       Greene           Woodville City
                                                                                                                         Woolsey         Fayette          Woolsey Town
                                                                                                                         Wrens           Jefferson        Wrens City
                                                                                                                         Wrightsville    Johnson          Wrightsville City
                                                                                                                         Yatesville      Upson            Yatesville Town
                                                                                                                         Young Harris Towns               Young Harris City
                                                                                                                         Zebulon         Pike             Zebulon City

                                                                                                                                           <---- Enter unlisted city here as needed, then select it from the corresponding box's drop down list.
                                                                                                                         <---- Enter unlisted tax-exempt bond issuer here as needed, then select it from the corresponding box's drop down list.




ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                       Part I-Project Information                                                                                                                   28 of 88
     Georgia Department of Community Affairs                                   2011 Funding Application                                                    Office of Affordable Housing
                                    PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

I.    OWNERSHIP INFORMATION

      A. OWNERSHIP ENTITY                            New Shady Grove Apartments, LLC                                                          Name of Principal    Joseph Wilczewski
             Office Street Address                   7700 Trenholm Road                                                                       Title of Principal   Member
             City                                    Columbia                             Fed Tax ID:                                         Direct line          (803) 419-6540
             State                                       SC       Zip+4 *            29223-1724       HQ Congressional District *     2       Cellular             (803) 730-5297
             10-Digit Office Phone / Ext.            (803) 788-3800                           Fax          (803) 419-6576              E-mail joe.wilczewski@boydmanagement.com
               (Enter phone numbers without using hyphens, parentheses, etc - ex: 1234567890)         * Must be verified by applicant using following websites:
      B. PROPOSED PARTNERSHIP INFORMATION                                                        Zip Codes                                 http://zip4.usps.com/zip4/welcome.jsp
         1. GENERAL PARTNER(S)                                                                   Congressional Districts:                  http://www.govtrack.us/congress/findyourreps.xpd
            a. Managing Gen'l Partner            WWJ, LLC                                                                                 Name of Principal    Joseph Wilczewski
               Office Street Address             7700 Trenholm Road                                                                       Title of Principal   Member
               City                              Columbia                                                                                 Direct line          (803) 419-6540
               State                                 SC      Zip+4 *          29223-1724         HQ Congressional District *      2       Cellular             (803) 730-5297
               10-Digit Office Phone / Ext.      (803) 788-3800                        Fax             (803) 419-6576              E-mail joe.wilczewski@boydmanagement.com
            b. Other General Partner                                                                                                       Name of Principal
               Office Street Address                                                                                                       Title of Principal
               City                                                                                                                        Direct line
               State                                           Zip+4                                                                       Cellular
               10-Digit Office Phone / Ext.                                             Fax                                       E-mail
            c. Other General Partner                                                                                                       Name of Principal
               Office Street Address                                                                                                       Title of Principal
               City                                                                                                                        Direct line
               State                                           Zip+4                                                                       Cellular
               10-Digit Office Phone / Ext.                                             Fax                                       E-mail
         2. LIMITED PARTNERS (PROPOSED OR ACTUAL)
            a. Federal Limited Partner           Georgia Preservation Fund I Limited Partnership (CAHEC)                                 Name of Principal  Dana Boole
               Office Street Address             7700 Falls of Neuse Road, Suite 200                                                     Title of Principal President and CEO
               City                              Raleigh                                                                                 Direct line        (919) 788-1803
               State                                 NC        Zip+4         27615-3355                                                  Cellular
               10-Digit Office Phone / Ext.      (919) 420-0063                        Fax           (919) 420-0019               E-mail gmayo@CAHEC.com
            b. State Limited Partner             Georgia Preservation Fund I Limited Partnership (CAHEC)                                 Name of Principal  Dana Boole
               Office Street Address             7700 Falls of Neuse Road, Suite 200                                                     Title of Principal President and CEO
               City                              Raleigh                                                                                 Direct line        (919) 788-1803
               State                                 NC        Zip+4         27615-3355                                                  Cellular
               10-Digit Office Phone / Ext.      (919) 420-0063                        Fax           (919) 420-0019               E-mail gmayo@CAHEC.com



     ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                        Part II-Development Team                                                                              29 of 88
 Georgia Department of Community Affairs                                   2011 Funding Application                                      Office of Affordable Housing
                                 PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

      3. NONPROFIT SPONSOR
            Nonprofit Sponsor                                                                                             Name of Principal
            Office Street Address                                                                                         Title of Principal
            City                                                                                                          Direct line
            State                                         Zip+4                                                           Cellular
            10-Digit Office Phone / Ext.                                           Fax                           E-mail

II. DEVELOPER(S)

   A. DEVELOPER                              WWJ, LLC                                                                   Name of Principal    Joseph Wilczewski
           Office Street Address             7700 Trenholm Road                                                         Title of Principal   Member
           City                              Columbia                                                                   Direct line          (803) 419-6540
           State                                 SC       Zip+4          29223-1724                                     Cellular             (803) 730-5297
           10-Digit Office Phone / Ext.      (803) 788-3800                       Fax           (803) 419-6576   E-mail joe.wilczewski@boydmanagement.com
   B. CO-DEVELOPER 1                                                                                                      Name of Principal
           Office Street Address                                                                                          Title of Principal
           City                                                                                                           Direct line
           State                                          Zip+4                                                           Cellular
           10-Digit Office Phone / Ext.                                            Fax                           E-mail
   C. CO-DEVELOPER 2                                                                                                      Name of Principal
           Office Street Address                                                                                          Title of Principal
           City                                                                                                           Direct line
           State                                          Zip+4                                                           Cellular
           10-Digit Office Phone / Ext.                                            Fax                           E-mail
   D. DEVELOPMENT CONSULTANT                 Greystone Affordable Housing Initiatives, LLC                              Name of Principal   Tanya Eastwood
           Office Street Address             4700 Falls of Neuse Road, Suite 120                                        Title of Principal  Managing Director
           City                              Raleigh                                                                    Direct line         (919) 573-7515
           State                                 NC        Zip+4        27609-6200                                      Cellular            (919) 357-5576
           10-Digit Office Phone / Ext.      (919) 573-7502                         Fax         (540) 359-7663   E-mail teastwood@GreystoneAHI.com




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 Georgia Department of Community Affairs                                  2011 Funding Application                                      Office of Affordable Housing
                                 PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

III. OTHER PROJECT TEAM MEMBERS

   A. OWNERSHIP CONSULTANT                                                                                               Name of Principal
          Office Street Address                                                                                          Title of Principal
          City                                                                                                           Direct line
          State                                           Zip+4                                                          Cellular
          10-Digit Office Phone / Ext.                                             Fax                          E-mail
   B. GENERAL CONTRACTOR                     Arnold Construction Corporation                                           Name of Principal     Ben D. Arnold
          Office Street Address              720 Lady Street                                                           Title of Principal    President
          City                               Columbia                                                                  Direct line           (803) 391-3210
          State                                  SC       Zip+4          29201-3020                                    Cellular              (803) 920-6545
          10-Digit Office Phone / Ext.       (803) 731-4321                       Fax          (803) 731-1381   E-mail dale@arnoldfamilycorp.com
   C. MANAGEMENT COMPANY                     Boyd Management, Inc.                                                     Name of Principal   Barbara Jaco
          Office Street Address              7700 Trenholm Road                                                        Title of Principal  VP, Operations
          City                               Columbia                                                                  Direct line         (803) 419-6556
          State                                  SC       Zip+4          29223-1724                                    Cellular            (803) 422-9886
          10-Digit Office Phone / Ext.       (803) 788-3800                       Fax          (803) 419-6577   E-mail babbie.jaco@boydmanagement.com
   D. ATTORNEY                               Coleman Talley LLP                                                        Name of Principal     Thompson Kurrie, Jr.
          Office Street Address              3475 Lenox Road NE, Suite 400                                             Title of Principal    Partner
          City                               Atlanta                                                                   Direct line           (678) 987-0936
          State                                  GA       Zip+4        30326-3229                                      Cellular              (229) 300-1404
          10-Digit Office Phone / Ext.       (770) 698-9556                     Fax            (770) 698-9729   E-mail tom.kurrie@colemantalley.com
   E. ACCOUNTANT                             Dixon Hughes Goodman, LLP                                                 Name of Principal  Margaret M. Thompson
          Office Street Address              1829 Eastchester Drive                                                    Title of Principal Member
          City                               High Point                                                                Direct line        (336) 822-4364
          State                                  NC       Zip+4      27265-1402                                        Cellular
          10-Digit Office Phone / Ext.       (336) 889-5156                   Fax              (336) 889-6168   E-mail mthompson@dixon-hughes.com
   F. ARCHITECT                              Ross/Deckard Architects, P.A.                                             Name of Principal      James Ross
           Office Street Address             3200 Atlantic Ave., Suite 110                                             Title of Principal     President
           City                              Raleigh                                                                   Direct line            (919) 875-0001
           State                                 NC        Zip+4           27604-1699                                  Cellular               (919) 621-3938
           10-Digit Office Phone / Ext.      (919) 875-0001                         Fax        (919) 875-9200   E-mail jr@rossdeckardarchitects.com




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     Georgia Department of Community Affairs                                              2011 Funding Application                                                   Office of Affordable Housing
                                        PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

IV. OTHER REQUIRED INFORMATION (Answer each of the questions below for each participant listed below.)
                     1. Has this entity   2. Is this    3. Has any person,        4. Does this entity have 5. Does this entity have 6. Has this entity ever been 7. Applicable            8. Project
                    withdrawn or been     entity a     principal, or agent for   an identity of interest with an identity of interest with debarred or suspended       Organizational     Ownership
                  involuntarily removed MBE/            this entity ever been      any other entity in this    any member, officer, or      from any local, state, or Type (For Profit,   Percentage
                from a HOME or LIHTC WBE?              convicted of a felony       chart? If yes, attach        employee of DCA? If        federal housing program? Nonprofit, CHDO)
 Participant       project in the last 36
                                                       (Yes or No)?. If yes,           explanation.           yes, attach explanation. If yes, attach explanation.
                   months (Y/N)? If Y,
                                                       attach explanation.
                   attach explanation.


Manage GP                 No                 No                  No                          Yes                            No                        No                 For Profit            0.0100%
Other GP1
Other GP2
Federal LP                No                 No                  No                           No                            No                        No                 Nonprofit            99.9900%
State LP                  No                 No                  No                           No                            No                        No                 Nonprofit             0.0000%
NP Sponsor
Developer                 No                 No                  No                          Yes                            No                        No                 For Profit            0.0000%
Co-Develpr 1
Co-Develpr 2
Ownr Consult
Dev Consult               No                 No                  No                          No                             No                        No                 For Profit           0.0000%
Contractor                No                 No                  No                          No                             No                        No                 For Profit           0.0000%
Mgt Co                    No                 No                  No                          Yes                            No                        No                 For Profit           0.0000%
                                                                                                                                                                                  Total     100.0000%

V.       APPLICANT COMMENTS AND CLARIFICATIONS                                                                                                  VI.    DCA COMMENTS - DCA USE ONLY
The Federal Limited Partner and State Limited Partner are the same investor (Georgia Preservation Fund I LP); therefore, the credits will not
be bi-furcated.

IV. 4 IOI. MANAGING GP: Managing GP of the new ownership entity is WWJ, who is also the Developer. Furthermore, the Key Principals of
the Managing GP are also minority principals in the management company, Boyd Management Inc.
DEVELOPER: The Developer is WWJ, who is also the Managing GP of the new ownership entity. The Key Principals of the Developer
(Kenneth Wheat, Joseph Wilczewski, and Barbara Jaco) are also minority principals of the management company, Boyd Management, Inc.


IV. 4. IOI. MGMT CO: Minority principals of the Management Company, Boyd Management, Inc.(Kenneth Wheat, Joseph Wilczewski and
Barbara Jaco) are also the Key Principals in WWJ, which is the Managing GP in the new ownership entity as well as the Developer.




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Georgia Department of Community Affairs                          2011 Funding Application                                     Office of Affordable Housing
                             PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County



                                                                                                                              State
                                                                                                                              AL
                                                                                                                              AK
                                                                                                                              AZ
                                                                                                                              AR
                                                                                                                              CA
                                                                                                                              CO
                                                                                                                              CT
                                                                                                                              DE
                                                                                                                              DC
                                                                                                                              FL
                                                                                                                              GA
                                                                                                                              HI
                                                                                                                              ID
                                                                                                                              IL
                                                                                                                              IN
                                                                                                                              IA
                                                                                                                              KS
                                                                                                                              KY
                                                                                                                              LA
                                                                                                                              ME
                                                                                                                              MD
                                                                                                                              MA
                                                                                                                              MI
                                                                                                                              MN
                                                                                                                              MS
                                                                                                                              MO
                                                                                                                              MT
                                                                                                                              NE
                                                                                                                              NV
                                                                                                                              NH
                                                                                                                              NJ
                                                                                                                              NM
                                                                                                                              NY
                                                                                                                              NC
                                                                                                                              ND
                                                                                                                              OH
                                                                                                                              OK
                                                                                                                              OR
                                                                                                                              PA

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Georgia Department of Community Affairs                          2011 Funding Application                                     Office of Affordable Housing
                             PART TWO - DEVELOPMENT TEAM INFORMATION - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                                                                              RI
                                                                                                                              SC
                                                                                                                              SD
                                                                                                                              TN
                                                                                                                              TX
                                                                                                                              UT
                                                                                                                              VT
                                                                                                                              VA
                                                                                                                              WA
                                                                                                                              WV
                                                                                                                              WI
                                                                                                                              WY




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      Georgia Department of Community Affairs                                                    2011 Funding Application                                                                Office of Affordable Housing
                                               PART THREE - SOURCES OF FUNDS - 2011-530 Shady Grove Apartments, Ellaville, Schley County


I.     GOVERNMENT FUNDING SOURCES (check all that apply)

          Yes       Tax Credits                          DCA HOME* --> amt from DCA Consent Ltr:                                                          Historic Rehab Credits
          Yes       Tax Exempt Bonds                     DCA PSHP HOME*                                             CDBG                                  FHA Insured Mortgage
                    Taxable Bonds                        Other HOME*                                                FHA Risk Share                        Other NSP* - Amount:
          Yes       USDA 515                             USDA 538                           HOPE VI                 FHLB / AHP*                           Other - describe here
       *This source may possibly trigger Uniform Relocation Act and/or HUD 104(d) reqmts. Check with source. For DCA HOME, refer to Relocation Manual. NSP = Neighborhood Stabilization Program


II.    CONSTRUCTION FINANCING

       Financing Type                                                           Name of Financing Entity                                Amount            Effective Interest Rate   Term (In Months)
       Mortgage A                                                               Greystone Servicing Corporation                                182,000           6.000%                    240
       Mortgage B                                                               USDA Rural Development                                         451,562           1.000%                    360
       Mortgage C
       Federal Grant
       State, Local, or Private Grant
       Deferred Developer Fees                                                  WWJ, LLC                                                        19,690
       Federal Housing Credit Equity                                            CAHEC                                                           92,382
       State Housing Credit Equity
       Other Type (specify)       TEB - Short-term, Cash Collateralized         Greystone Servicing Corporation                                505,000
       Other Type (specify)
       Other Type (specify)
       Total Construction Financing:                                                                                                         1,250,634
       Total Construction Period Costs from Development Budget:                                                                              1,250,634
       Surplus / (Shortage) of Construction funds to Construction costs:                                                                              0




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       Georgia Department of Community Affairs                                                     2011 Funding Application                                                            Office of Affordable Housing
                                              PART THREE - SOURCES OF FUNDS - 2011-530 Shady Grove Apartments, Ellaville, Schley County

III.    PERMANENT FINANCING
                                                                                                           Effective      Term       Amort.     Annual Debt Service                        Target
        Financing Type                    Name of Financing Entity                  Principal Amount       Int Rate      (Years)     (Years)       in Year One           Loan Type          DCR
        N/A                               Neither                                                    0     0.000%           0           0                                Amortizing          n/a
        Mortgage A                        Greystone Servicing Corp                             182,000     6.000%          20          35                   12,453       Amortizing         2.22
        Mortgage B                        Rural Housing Servicing                              451,562     1.000%          30          50                   11,480       Amortizing         1.16
        Other:
        Grant from foundation or charity
        Deferred Devlpr Fee       11.06% WWJ, LLC                                                19,690     0.000%           13        13                    1,600       Cash Flow
        Federal Grant                                                                                                                                                                                         TC Equity
        State, Local, or Private Grant                                                                          Equity Check          +/-                                                                     % of TDC
        Federal Housing Credit Equity     CAHEC Affliliate                                     620,293            620,351                   -58 Proposed DCA HOME Loan Interest Rate by Operating               45%
        State Housing Credit Equity       CAHEC Affliliate                                     103,382            103,392                   -10           Year for Projects in Rural Areas:                      8%
        Historic Credit Equity                                                                                                                   Year:       1 -7       8         9          10                 53%
        Invstmt Earnings: T-E Bonds                                                                                                              Rate:
        Invstmt Earnings: Taxable Bonds                                                                                                           11         12        13         14         15
        Income from Operations
        Other:                                                                                                                                     16        17        18         19         20
        Other:
        Other:                                                                                                                                     21        22        23         24         25
        Total Permanent Financing:                                                     1,376,927
        Total Development Costs from Development Budget:                               1,376,927                                                   26        27        28         29         30
        Surplus/(Shortage) of Permanent funds to development costs:                        0
IV.     APPLICANT COMMENTS AND CLARIFICATIONS                                                                          IV.         DCA COMMENTS - DCA USE ONLY
MORTGAGE A (Series A TEB): Credit enhancement to be FNMA Immediate Delivery product provided by Greystone
Servicing Corporation. Thus, there is not a separate construction lender involved in the transaction.
MORTGAGE B (RHS Assumed Mortgage): Assumed debt is restated under new rates and terms at acquisition - 1% for a
new 30/50 term. This will be evidenced in the RD Assumption Agreement provided at closing.

OTHER (Series C TEB): Cash collateralized (no mortgage) during construction period only; bonds to be redeemed after
PIS from LIHTC sales proceeds.




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       Georgia Department of Community Affairs                                      2011 Funding Application                                    Office of Affordable Housing
                                                PART FOUR - USES OF FUNDS - 2011-530 Shady Grove Apartments, Ellaville, Schley County
                                                           CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
                                                                                                                                                           Amortizable or
I. DEVELOPMENT BUDGET                                                                                New Construction    Acquisition     Rehabilitation
                                                                                                                                                          Non-Depreciable
                                                                                    TOTAL COST            Basis            Basis            Basis
                                                                                                                                                               Basis
  PRE-DEVELOPMENT COSTS                                                                                                   PRE-DEVELOPMENT COSTS
  Property Appraisal                                                                       3,504                                              3,420                    84
  Market Study                                                                             3,000                                              3,000
  Environmental Report(s)                                                                  2,150                                              2,150
  Soil Borings
  Boundary and Topographical Survey                                                        4,500                                                  4,392               108
  Zoning/Site Plan Fees
  Other: Capital Needs Assessment (PNA)                                                    3,000                                                  3,000
  Other:
  Other:
                                                                        Subtotal          16,154                  -               -              15,962               192
  ACQUISITION                                                                                                                    ACQUISITION
  Land                                                                                    11,773                                                                   11,773
  Site Demolition
  Acquisition Legal Fees (if existing structures)                                          4,947                                4,593                                 354
  Existing Structures                                                                    493,789                              479,598                              14,191
                                                                        Subtotal         510,509                              484,191                              26,318
  LAND IMPROVEMENTS                                                                                                          LAND IMPROVEMENTS
  Site Construction (On-site)
  Site Construction (Off-site)
                                                                        Subtotal             -                    -               -                 -                 -
  STRUCTURES                                                                                                                     STRUCTURES
  Residential Structures - New Construction
  Residential Structures - Rehab                                                         473,023                                                473,023
  Accessory Structures (ie. community building, maintenance building, etc.)
                                                                        Subtotal         473,023                  -              -           473,023                  -
  CONTRACTOR SERVICES                                    14.00%                                                             CONTRACTOR SERVICES
  Builder Profit:                                         6.00%            28,381         28,381                                              28,381
  General Requirements* and Builder Overhead              8.00%            37,842         37,841                                              37,841
  *Refer to General Requirements policy in QAP                          Subtotal          66,222                  -              -            66,222                  -
  Total Construction Hard Costs                29,958.06           per unit
  539,245.00                                       37.33           per sq ft
  CONSTRUCTION CONTINGENCY                                                                                              CONSTRUCTION CONTINGENCY
  Construction Contingency                                            7.0000%             37,747                                             37,747




       ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                             Part IV-Uses of Funds                                                             37 of 88
      Georgia Department of Community Affairs                                     2011 Funding Application                                    Office of Affordable Housing
                                            PART FOUR - USES OF FUNDS - 2011-530 Shady Grove Apartments, Ellaville, Schley County
                                                      CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
                                                                                                                                                         Amortizable or
I. DEVELOPMENT BUDGET                                                                              New Construction     Acquisition    Rehabilitation
                                                                                                                                                        Non-Depreciable
                                                                                  TOTAL COST            Basis             Basis           Basis
                                                                                                                                                             Basis
  CONSTRUCTION PERIOD FINANCING                                                                                       CONSTRUCTION PERIOD FINANCING
  Construction Loan Fee
  Construction Loan Interest                                                            19,758                                                 14,818             4,940
  Construction Legal Fees
  Construction Period Real Estate Tax
  Construction Insurance
  Bridge Loan Fee and Bridge Loan Interest
  Payment and Performance bonds
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal         19,758                  -              -            14,818                4,940
  PROFESSIONAL SERVICES                                                                                                  PROFESSIONAL SERVICES
  Architectural Fee - Design                                                            10,530                                              10,530
  Architectural Fee - Supervision                                                        5,670                                               5,670
  Green Building Consultant Fee
  Green Building Program Certification Fee (LEED or Earthcraft)
  Accessibility Inspections and Plan Review
  Construction Materials Testing
  Engineering
  Real Estate Attorney
  Accounting                                                                            10,000                                                 10,000
  Other:
                                                                       Subtotal         26,200                  -               -           26,200                  -
  LOCAL GOVERNMENT FEES                                                                                                  LOCAL GOVERNMENT FEES
  Building Permits
  Impact Fees
  Water Tap Fees                              waived?
  Sewer Tap Fees                              waived?
                                                                       Subtotal            -                    -              -                -                   -
  PERMANENT FINANCING FEES                                                                                              PERMANENT FINANCING FEES
  Permanent Loan Fees                                                                    5,272                                                                    5,272
  Permanent Loan Legal Fees                                                              4,256                                                                    4,256
  Title and Recording Fees                                                                 750                                                                      750
  As-Built Survey                                                                        1,500                                                                    1,500
  Bond Issuance Premium                                                                  2,753                                                                    2,753
  Cost of Issuance / Underwriter's Discount                                             12,166                                                                   12,166
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal         26,697                  -                -                -              26,697

      ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                            Part IV-Uses of Funds                                                             38 of 88
      Georgia Department of Community Affairs                                     2011 Funding Application                                    Office of Affordable Housing
                                            PART FOUR - USES OF FUNDS - 2011-530 Shady Grove Apartments, Ellaville, Schley County
                                                      CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS

I. DEVELOPMENT BUDGET                                                                              New Construction    Acquisition     Rehabilitation    Amortizable or
                                                                                                        Basis            Basis            Basis         Non-Depreciable
                                                                                  TOTAL COST
                                                                                                                                                             Basis
  DCA-RELATED COSTS                                                                                                        DCA-RELATED COSTS
  DCA HOME Loan Pre-Application Fee
  Tax Credit Application Fee                                                             4,500                                                                    4,500
  DCA Waiver Fees                                                                        3,000                                                                    3,000
  LIHTC Allocation Processing Fee                                         2,895          2,895                                                                    2,895
  LIHTC Compliance Monitoring Fee                                        12,600          2,700                                                                    2,700
  DCA Front End Analysis Fee (HOME, when ID of Interest)
  DCA Final Inspection Fee (Tax Credit only - no HOME)                                   3,000                                                                    3,000
  Other: <Enter detailed description here; use Comments section if needed>
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal         16,095                                                                   16,095
  EQUITY COSTS                                                                                                                EQUITY COSTS
  Partnership Organization Fees                                                            250                                                                      250
  Tax Credit Legal Opinion
  Syndicator Legal Fees
  Other: <Enter detailed description here; use Comments section if needed>
                                                                       Subtotal            250                                                                      250
  DEVELOPER'S FEE                                                                                                          DEVELOPER'S FEE
  Developer's Overhead                                               20.409%            36,341                              36,341
  Consultant's Fee                                                   50.000%            89,032                              36,341          52,691
  Developer's Profit                                                 29.591%            52,691                                              52,691
                                                                       Subtotal        178,064                     -        72,682         105,382                  -
  START-UP AND RESERVES                                                                                                 START-UP AND RESERVES
  Marketing
  Rent-Up Reserves
  Operating Deficit Reserve:
  Replacement Reserve
  Furniture, Fixtures and Equipment                   Per Unit: 13888.889%               2,500                                                  2,500
  Other:
                                                                       Subtotal          2,500                     -           -                2,500               -
  OTHER COSTS                                                                                                                 OTHER COSTS
  Relocation                                                                             1,800                                                  1,800
  Other: PRA (Private Rental Assistance)                                                 1,908                                                                    1,908
                                                                       Subtotal          3,708                     -            -               1,800             1,908
  TOTAL DEVELOPMENT COST                                                             1,376,927                     -        556,873           743,654            76,400
  Total Per Unit Cost Limitation:            2,607,918           TDC Per Unit:        76,495.94   TDC Per Sq Ft:               95.32




      ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                            Part IV-Uses of Funds                                                             39 of 88
        Georgia Department of Community Affairs                                      2011 Funding Application                                                 Office of Affordable Housing
                                              PART FOUR - USES OF FUNDS - 2011-530 Shady Grove Apartments, Ellaville, Schley County
                                                         CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
II. TAX CREDIT CALCULATION - BASIS METHOD
                                                                                                       New Construction    4% Acquisition          Rehabilitation
                                                                                                            Basis              Basis                  Basis
   Subtractions From Eligible Basis
   Amount of federal grant(s) used to finance qualifying development costs
   Amount of nonqualified nonrecourse financing
   Costs of Nonqualifying units of higher quality
   Nonqualifying excess portion of higher quality units
   Historic Tax Credits (Residential Portion Only)
   Other <Enter detailed description here; use Comments section if needed>
   Total Subtractions From Basis:                                                                                0                                        0
   Eligible Basis Calculation
   Total Basis                                                                                                   0             556,873                743,654
   Less Total Subtractions From Basis (see above)                                                                0                                       0
   Total Eligible Basis                                                                                          0             556,873                743,654
   Eligible Basis Adjustment (DDA/QCT Location or State Designated Boost)           Type: <<Select>>                                                  100.00%
   Adjusted Eligible Basis                                                                                    0               556,873                 743,654
   Multiply Adjusted Eligible Basis by Applicable Fraction                                                 100.00%            100.00%                 100.00%
   Qualified Basis                                                                                            0               556,873                 743,654
   Multiply Qualified Basis by Applicable Credit Percentage                                                                     3.18%                  3.18%
   Maximum Tax Credit Amount                                                                                     0             17,709                 23,648
   Total Basis Method Tax Credit Calculation                                                                                  41,357

III. TAX CREDIT CALCULATION - GAP METHOD                                                                  Maximum TDC                                                If Historic Designation
                                                                                                                                                                          or Brownfield
     Equity Gap Calculation                                                                                 1,376,927     If TDC > PUCL, provide amount of grant
                                                                                                                                                                     Development involved,
     Total Development Cost (TDC or PUCL; explain in Comments if TDC > PUCL)                               1,376,927      from foundation or charitable org to cover     indicate below:
                                                                                                                          the cost exceeding the PUCL:
     Subtract Non-LIHTC (excluding deferred fee) Source of Funds                                            633,562                                                                  Y/N
     Equity Gap                                                                                             743,365           Grant Amt         Foundtn / Charitble Org Hist Desig    No
     Divide Equity Gap by 10                                                                                   / 10                                                     Brownfld      No
     Annual Equity Required                                                                                  74,337                   Federal                   State
     Enter Final Federal and State Equity Factors (not including GP contribution)                            1.7500           =       1.5000         +         0.2500
     Total Gap Method Tax Credit Calculation                                                                 42,478

   TAX CREDIT PROJECT MAXIMUM - Lower of Basis Method, Gap Method and DCA Limit:                             41,357

   TAX CREDIT REQUEST - Cannot exceed Tax Credit Project Maximum, but may be lower:                          41,357       ALLOCATION CANNOT EXCEED MAXIMUM - REVISE ALLOCATION!

IV. TAX CREDIT ALLOCATION - Lower of Tax Credit Request and Tax Credit Project Maximum                       41,357



        ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                             Part IV-Uses of Funds                                                                             40 of 88
         Georgia Department of Community Affairs                                                2011 Funding Application                                        Office of Affordable Housing
                                                    PART FOUR - USES OF FUNDS - 2011-530 Shady Grove Apartments, Ellaville, Schley County
                                                               CERTIFICATION OF ACTUAL COST AND OPINION AS TO ELIGIBLE BASIS
V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                          VI.   DCA COMMENTS - DCA USE ONLY
LAND: Cost based on value from Appraisal. This report and a letter explaining the valuation methodology are included (TAB 10).
HARD COSTS: Construction costs are provided by General Contractor. See enclosed SOW (TAB 8) for schedule of values. See
Post Rehab Capital Needs Assessment which incorporates the proposed SOW, establishing a new 20 year replacement reserve
schedule (TAB 17).

CONSTRUCTION PERIOD FINANCING: Series A Bonds - Finance structure is based on FNMA (Immediate Delivery) as the credit
enhancement for tax exempt bonds. Therefore, permanent financing is in-place at bond issuance / construction closing (no
separate construction loan). Interim interest expense assumptions are based on 9 month contruction period with a 11 month
construction term @ a permanent fixed rate of 6.00%. [Note: Rate lock to occur prior to bond issuance.] Series C Bonds -
Interim interest assumptions for Series C (cash backed bonds) at 1.75% for 12 month term (conversion). Assuming $0 interest
earned; therefore, all negative arbitrage included in the development budget.


PROFESSIONAL SERVICES: A) Architectural Fees - per contract with Ross/Deckard Architects, service fee allocated 65%
Design & 35% administration. B) Accounting - LIHTC and Tax Exempt Bond cost certifications, to be completed by Dixon Hughes
LOCAL GOVERNMENT FEES: Local government impact and/or tap fees are not applicable, as there will be no new units or baths
added as part of the rehab scope of work.
COMPLIANCE MONITORING FEE: Per 2011 QAP, compliance monitoring fee reduced from $700 per unit to $150 per unit for
USDA projects; therefore, fee is $2,700 vs. $12,600 for non-USDA projects.




DEVELOPER FEE - Includes developer consultant agreement with GAHI.
RESERVES: A) In place rehab with currently 88.8% occupancy; therefore, DCA policy exception granted for Marketing and Rent
Up Reserves. Routine marketing/advertising costs are included in the RD approved operating budget.          B) See Financial
Waiver (TAB 4) regarding Operating Deficit Reserves. C) Budgeted for PRA (Private Rental Assistance) to help ensure there is
not a negative impact on existing tenants as a result of the rehab.
EQUITY PRICING: Pricing to vary per project within the portfolio, with a portfolio aggregrate total average of $1.11 ($0.86 for
federal and $0.25 for state).




         ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                         Part IV-Uses of Funds                                                          41 of 88
Georgia Department of Community Affairs                              2011 Funding Application                                            Office of Affordable Housing



                          PART FIVE - UTILITY ALLOWANCES - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                           DCA Utility Region for project:          Middle

    I. UTILITY ALLOWANCE SCHEDULE #1                       Source of Utility Allowances             USDA Rural Development; Zeffert & Associates
                                                           Date of Utility Allowances               May 27, 2011         Structure MF
                                                            Paid By (check one)                     Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
       Utility              Fuel                             Tenant     Owner                          0           1            2         3          4
       Heat                 Electric                           X                                                  23           25
       Air Conditioning     Electric                           X                                                  10           16
       Cooking              Electric                           X                                                   8           10
       Hot Water            Electric                           X                                                  14           20
       Lights               Electric                           X                                                  25           36
       Water & Sewer        Submetered?            Yes         X                                                  24           37
       Refuse Collection                                       X                                                  16           16
       Total Utility Allowance by Unit Size                                                            0         120          160         0          0

    II. UTILITY ALLOWANCE SCHEDULE #2                      Source of Utility Allowances
                                                           Date of Utility Allowances                                        Structure
                                                            Paid By (check one)                     Tenant-Paid Utility Allowances by Unit Size (# Bdrms)
       Utility              Fuel                             Tenant     Owner                          0           1           2          3          4
       Heat                 <<Select Fuel >>
       Air Conditioning     Electric
       Cooking              <<Select Fuel >>
       Hot Water            <<Select Fuel >>
       Lights               Electric
       Water & Sewer        Submetered?
       Refuse Collection
       Total Utility Allowance by Unit Size                                                             0           0            0             0           0

       *Elderly allowances cannot be used except at properties that have 100% HUD PBRA and satisfy the DCA definition of "elderly"
       APPLICANT COMMENTS AND CLARIFICATIONS
       Utility Allowance as approved by USDA Rural Development for 2012.
       See TAB 7 for copy of approval letter and independent study based on actual historical consumption.
       DCA COMMENTS




ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                    Part V-Utility Allowances                                                        page 42 of 88
                                        Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       2011 Funding Application                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           Of f ice of Af f ordable Housing

                                            PART SIX - PROJECTED REVENUES & EXPENSES - 2011-530 Shady Grove Apartments, Ellaville, Schley County

                                                                                                                                                                 Schley Co.
I.   RENT SCHEDULE          DO NOT cut, copy or paste cells in this tab. Assign a Rent Type of "N/A-CS" to Common Space units.                     MSA/NonMSA:

     HOME projects - Fixed or Floating units:
                                                                                                PBRA Provider                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Efficiency                                           Efficiency                                           Efficiency
     Are 100% of units HUD PBRA?                               No                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       Efficiency     1 BR       2 BR       3 BR       4 BR     Efficiency     1 BR       2 BR       3 BR       4 BR     Efficiency     1 BR       2 BR       3 BR        4 BR
                                                                                                                                                                                                                                                                                                                                                                                                            Efficiency   1 BR    2 BR    3 BR    4 BR    Efficiency   1 BR    2 BR    3 BR    4 BR    Efficiency   1 BR        2 BR     3 BR    4 BR       PHA         PHA        PHA        PHA        PHA         PHA         PHA        PHA        PHA        PHA         PHA         PHA        PHA        PHA         PHA        Efficiency    1 BR     2 BR     3 BR                                                                                                                                                                                                                                                                                                                                                                               New       1 BR New 2 BR New 3 BR New 4 BR New        New       1 BR New 2 BR New 3 BR New 4 BR New        New       1 BR New 2 BR New 3 BR New 4 BR New       Efficiency                                                                                                             Efficiency
                                                                                                 or Operating
                                                                                                                   Monthly Net Rent                                                       Efficiency                                         Efficiency                                         Efficiency                                                                                                    PBRA       PBRA    PBRA    PBRA    PBRA      PBRA       PBRA    PBRA    PBRA    PBRA      PBRA       PBRA        PBRA     PBRA    PBRA    Oper Sub     Oper Sub   Oper Sub   Oper Sub   Oper Sub   Oper Sub     Oper Sub   Oper Sub   Oper Sub   Oper Sub   Oper Sub     Oper Sub   Oper Sub   Oper Sub    Oper Sub     Common       Common   Common   Common                                                                                                                                                                                                                                                                                                                  Efficiency     1 BR       2 BR       3 BR       4 BR     Construct    Construct Construct Construct Construct Construct    Construct Construct Construct Construct Construct    Construct Construct Construct Construct        LI        1 BR        2 BR       3 BR       4 BR     Efficiency    1 BR         2 BR       3 BR        4 BR           CS        1 BR       2 BR       3 BR       4 BR       Efficiency    1 BR       2 BR       3 BR
         Rent        Nbr of No. of Unit          Unit      Max Gross Proposed           Utility                                         Employee     Building        Type of
                                                                                                  Subsidy ***                                                                                60%       1 BR 60% 2 BR 60% 3 BR 60% 4 BR 60%      50%       1 BR 50% 2 BR 50% 3 BR 50% 4 BR 50%      30%       1 BR 30% 2 BR 30% 3 BR 30% 4 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt   3 BR Mkt   4 BR Mkt      30%        30%     30%     30%     30%       50%        50%     50%     50%     50%       60%        60%         60%      60%     60%       30%         30%        30%        30%        30%         50%         50%        50%        50%        50%         60%         60%        60%        60%         60%          Space       Space    Space    Space   4 BR Common    Efficiency 60%                                                            Efficiency   1 BR 50% 2 BR 50% 3 BR 50% 4 BR 50%   Efficiency   1 BR 30% 2 BR 30% 3 BR 30% 4 BR 30%   Efficiency   1 BR Mkt   2 BR Mkt   3 BR Mkt   4 BR Mkt   Efficiency     1 BR       2 BR       3 BR      4 BR    Common       Common     Common     Common     Common       ion LI       ion LI   ion LI    ion LI    ion LI    ion Mkt      ion Mkt   ion Mkt   ion Mkt   ion Mkt   ion CS        ion CS   ion CS    ion CS    ion CS     Acq/Rhb      Acq/Rhb     Acq/Rhb    Acq/Rhb    Acq/Rhb    Acq/Rhb      Acq/Rhb     Acq/Rhb     Acq/Rhb     Acq/Rhb     Acq/Rhb      Acq/Rhb    Acq/Rhb    Acq/Rhb    Acq/Rhb     Rehab LI     Rehab LI   Rehab LI   Rehab LI
         Type        Bdrms Baths Count           Area      Rent Limit Gross Rent      Allowance (See note below) Per Unit      Total      Unit         Type          Activity               Units        Units    Units    Units    Units      Units        Units    Units    Units    Units      Units        Units    Units    Units    Units    Mkt Units      Units      Units      Units      Units      Units      Units   Units   Units   Units     Units      Units   Units   Units   Units     Units      Units       Units    Units   Units     Units       Units      Units      Units      Units       Units       Units      Units      Units      Units       Units       Units      Units      Units       Units         Units       Units    Units    Units    Space Units          SF        1 BR 60% SF    2 BR 60% SF   3 BR 60% SF   4 BR 60% SF    50% SF         SF       SF       SF       SF       30% SF         SF       SF       SF       SF       Mkt SF         SF         SF         SF         SF      PBRA SF      PBRA SF    PBRA SF    PBRA SF   PBRA SF   Space SF     Space SF   Space SF   Space SF   Space SF     Units        Units    Units     Units     Units      Units        Units     Units     Units     Units     Units         Units    Units     Units     Units       Units      LI Units    LI Units   LI Units   LI Units   Mkt Units    Mkt Units   Mkt Units   Mkt Units   Mkt Units     Units      CS Units   CS Units   CS Units   CS Units      Units       Units      Units      Units
        60% AMI        1     1.0     5           651          548        548              120        USDA            428        2,140      No         1-Story    Acquisition/Rehab
                                                                                                                                                                                                               5                                                                                                                                                                                                                                                                                                           5                                                                                                                                                                                                                                                                                       3256.55                                                                                                                                                                                                                          3256.55                                                                                                                                                                                                                                                                                 5
        60% AMI        1     1.0     1           651          548        548              120                        428          428      No         1-Story    Acquisition/Rehab
                                                                                                                                                                                                               1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    651.31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  1
        60% AMI        2     1.0    10           878          658        658              160        USDA            498        4,980      No         1-Story    Acquisition/Rehab
                                                                                                                                                                                                                       10                                                                                                                                                                                                                                                                                                          10                                                                                                                                                                                                                                                                                             8781.8                                                                                                                                                                                                                        8781.8                                                                                                                                                                                                                                                                               10
        60% AMI        2     1.0     2           878          658        658              160                        498          996      No         1-Story    Acquisition/Rehab
                                                                                                                                                                                                                        2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        1756.36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              2
        N/A-CS                                   451                                                                 -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                                                                                                                     -            -
                           TOTAL       18        14,446                                               MONTHLY TOTAL             8,544
                                                                                                                                                                                                          6        12                                                                                                                                                                                                                                                                                                5           10                                                                                                                                                                                                                                                                               3,908         10,538                                                                                                                                                                                                               3,257      8,782                                                                                                                                                                                                                                                                   6          12
                                                                                                       ANNUAL TOTAL           102,528

*** NOTE: W hen selecting "PHA Operating Subsidy" in the "PBRA Provider or Operating Subsidy" column above, please also then enter a zero in the "Proposed Gross Rent" column above AND
include the PHA operating subsidy amount in the "III. Ancillary and Other Income" section below. Also refer to the Application Instructions provided separately.




                                        ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   43 of 88
                                             Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                        2011 Funding Application       Of f ice of Af f ordable Housing

                                               PART SIX - PROJECTED REVENUES & EXPENSES - 2011-530 Shady Grove Apartments, Ellaville, Schley County


II. UNIT SUMMARY                                                                                                                                                                     II.   UNIT SUMMARY
   Units:                                                                    Efficiency        1BR           2BR       3BR   4BR      Total                                                Units:                                                                    Efficiency   1BR       2BR       3BR   4BR   Total
                    Low-Income                                 60% AMI              -                   6         12   -     -               18   (Includes manager units that are                           Low-Income                                   60% AMI           -          6         12   -     -           18   (Include mgr units that are income restricted)
                                                               50% AMI              -               -         -        -     -           -        income restricted)                                                                                      50% AMI           -      -         -        -     -       -
                                                               T otal               -                   6         12   -     -               18                                                                                                           T otal            -          6         12   -     -           18
NOTE TO             Unrestricted                                                    -               -         -        -     -           -                                                                   Unrestricted                                                   -      -         -        -     -       -
APPLICANTS: If      Total Residential                                               -                   6         12   -     -               18                                                              Total Residential                                              -          6         12   -     -           18
the numbers         Common Space                                                    -               -         -        -     -           -        (no rent to be charged)                                    Common Space                                                   -      -         -        -     -       -        (no rent may be charged)
compiled in this
                    Total                                                           -                   6         12   -     -               18                                                              Total                                                          -          6         12   -     -           18
Summary do not
appear to match     PBRA-Assisted                              60% AMI              -                   5         10   -     -               15                                                              PBRA-Assisted                                60% AMI           -          5         10   -     -           15
what was entered
                    (included in LI above)                     50% AMI              -               -         -        -     -           -                                                                   (included in LI above)                       50% AMI           -      -         -        -     -       -
in the Rent Chart
                                                               T otal               -                   5         10   -     -               15                                                                                                           T otal            -          5         10   -     -           15
above, please
verify that all
applicable          PHA Operating Subsidy-Assisted             60% AMI              -               -         -        -     -           -                                                                   PHA Operating Subsidy-Assisted               60% AMI           -      -         -        -     -       -
columns were        (included in LI above)                     50% AMI              -               -         -        -     -           -                                                                   (included in LI above)                       50% AMI           -      -         -        -     -       -
completed in the                                               T otal               -               -         -        -     -           -                                                                                                                T otal            -      -         -        -     -       -
rows used in the    Type of Construction Activity                                                                                                                                                            Construction:
Rent Chart                            New Construction         Low Inc              -               -         -        -     -           -                                                                                            New Construction    Low Inc           -      -         -        -     -       -
above.                                                         Unrestricted         -               -         -        -     -           -                                                                                                                Mkt Rate          -      -         -        -     -       -
                                                               T otal + CS          -               -         -        -     -           -                                                                                                                T otal + CS       -      -         -        -     -       -
                                        Acq/Rehab              Low Inc              -                   6         12   -     -               18                                                                                       Acq/Rehab           Low Inc           -          6         12   -     -           18
                                                               Unrestricted         -               -         -        -     -           -                                                                                                                Mkt Rate          -      -         -        -     -       -
                                                               T otal + CS          -                   6         12   -     -               18                                                                                                           T otal + CS       -          6         12   -     -           18
                                        Substantial Rehab      Low Inc              -               -         -        -     -           -                                                                                            Rehab Only          Low Inc           -      -         -        -     -       -
                                        Only                   Unrestricted         -               -         -        -     -           -                                                                                                                Mkt Rate          -      -         -        -     -       -
                                                               T otal + CS          -               -         -        -     -           -                                                                                                                T otal + CS       -      -         -        -     -       -
                                        Adaptive Reuse                                                                                   -
                                        Historic Rehab                                                                                   -
                    Building Type:                                                                                                                                                                           Building Type:
                                        Multifamily                                 -                   6         12   -     -               18                                                                                       Multifamily                           -          6         12   -     -           18
                                        SF Detached                                 -               -         -        -     -           -                                                                                            SF Detached                           -      -         -        -     -       -
                                        Townhome                                    -               -         -        -     -           -                                                                                            Townhome                              -      -         -        -     -       -
                                        Duplex                                      -               -         -        -     -           -                                                                                            Duplex                                -      -         -        -     -       -
                                                                                    -               -         -        -     -           -                                                                                                                                  -      -         -        -     -       -
                                        Manufactured home                                                                                                                                                                             Manufactured home
   Unit Square Footage:                                                                                                                                                                    Square Footage:
                  Low Income                                   60% AMI              -          3,908        10,538     -     -        14,446                                                                 Low Income                                   60% AMI           -     3,908    10,538     -     -     14,446
                                                               50% AMI              -            -             -       -     -           -                                                                                                                50% AMI           -       -         -       -     -        -
                                                               T otal               -          3,908        10,538     -     -        14,446                                                                                                              T otal            -     3,908    10,538     -     -     14,446
                    Unrestricted                                                    -            -             -       -     -           -                                                                   Unrestricted                                                   -       -         -       -     -        -
                    Total Residential                                               -          3,908        10,538     -     -        14,446                                                                 Total Residential                                              -     3,908    10,538     -     -     14,446
                    Common Space                                                    -            -             -       -     -           -                                                                   Common Space                                                   -       -         -       -     -        -
                    Total                                                           -          3,908        10,538     -     -        14,446                                                                 Total                                                          -     3,908    10,538     -     -     14,446




                                             ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                                                                                                                                                                              Part VI-Revenues & Expenses                            44 of 88
                                             Georgia Department of Community Af f airs                                                                                                                    2011 Funding Application       Of f ice of Af f ordable Housing

                                                PART SIX - PROJECTED REVENUES & EXPENSES - 2011-530 Shady Grove Apartments, Ellaville, Schley County



III. ANCILLARY AND OTHER INCOME (annual amounts)

   Ancillary Income                                                              1,080                               Laundry, vending, app fees, etc. Will be exactly 2% of potential gross income.

   Other Income (OI) by Year:

   Included in Mgt Fee:                                             1             2             3       4       5            6              7               8                  9               10
   Operating Subsidy
   Other:
                     Total OI in Mgt Fee                             -             -                -    -       -               -              -               -                  -                  -

   NOT Included in Mgt Fee:
   USDA 538 Loan Interest Credit (fill in Part III A tab)
   Property Tax Abatement
   Other:
                    Total OI NOT in Mgt Fee                          -             -                -    -       -               -              -               -                  -                  -




   Included in Mgt Fee:                                            11            12            13       14     15           16             17              18                 19               20
   Operating Subsidy
   Other:
                     Total OI in Mgt Fee                             -             -                -    -       -               -              -               -                  -                  -

   NOT Included in Mgt Fee:
   USDA 538 Loan Interest Credit (fill in Part III A tab)
   Property Tax Abatement
   Other:
                     Total OI NOT in Mgt Fee                         -             -                -    -       -               -              -               -                  -                  -




   Included in Mgt Fee:                                            21            22            23       24     25           26             27              28                 29               30
   Operating Subsidy
   Other:
                     Total OI in Mgt Fee                             -             -                -    -       -               -              -               -                  -                  -

   NOT Included in Mgt Fee:
   USDA 538 Loan Interest Credit (fill in Part III A tab)
   Property Tax Abatement
   Other:
                     Total OI NOT in Mgt Fee                         -             -                -    -       -               -              -               -                  -                  -




                                             ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                          Part VI-Revenues & Expenses                            45 of 88
                                               Georgia Department of Community Af f airs                                                                                                              2011 Funding Application       Of f ice of Af f ordable Housing

                                                 PART SIX - PROJECTED REVENUES & EXPENSES - 2011-530 Shady Grove Apartments, Ellaville, Schley County

IV. ANNUAL OPERATING EXPENSE BUDGET

    On-Site Staff Costs                                                                          On-Site Security                                     Taxes and Insurance
    Management Salaries & Benefits                                     8,943                     Contracted Guard                                     Real Estate Taxes (Gross)*              8,400
                                                                      11,057
    Maintenance Salaries & Benefits                                                              Electronic Alarm System                              Insurance**                             4,806
    Support Services Salaries & Benefits                                                                          Subtotal                            Misc. T axes, License, & Permits           75
    Other (describe here)
                                                                                                                                                         Subtotal                            13,281
                                                                      20,000
                    Subtotal

    On-Site Office Costs                                                                         Professional Services                                Management Fee:                         8,537
                                                                         800                                                                 50
    Office Supplies & Postage                                                                    Legal                                                   509.98   per unit per year
                                                                         650                                                               1,800
    Telephone                                                                                    Accounting                                                42.50      per unit per month
                                                                                                                                            175
    Travel                                                                                       Advertising
                                                                                                                                            300
    Leased Furniture / Equipment                                                                 T raining                                            (Management Fee is from Pro Forma, Section 1,
    Activities Supplies / Overhead Cost                                                                           Subtotal                 2,325      Operating Assumptions)
    Yardi, Credit Reports, Misc.                                         808
                                                                       2,258
                    Subtotal

    Maintenance Expenses                                                                         Utilities        ($/mth/unit)                        TOTAL OPERATING EXPENSES
                                                                         550                                                               3,300
    Contracted Repairs                                                                           Electricity         15.28                                 3,414      per unit               61,451
    General Repairs                                                    1,000                     Natural Gas
                                                                       4,750                                                               1,575
    Grounds Maintenance                                                                          Water&Swr           7.29
                                                                         500                                                                525
    Extermination                                                                                Trash Collection                                     Replacement Reserve                     7,200
                                                                       2,500
    Maintenance Supplies                                                                         Other (describe here)                                Enter desired per unit amount:            400
                                                                                                                                           5,400
    Elevator Maintenance                                                                                          Subtotal
    Redecorating                                                         350
    Capital Improvements (Operations)
                                                                                                                                                      TOTAL ANNUAL EXPENSES
                                                                       9,650
                    Subtotal                                                                                                                                                                 68,651


V. APPLICANT COMMENTS AND CLARIFICATIONS                                                                                         VI.   DCA COMMENTS
RENTS: Pro forma rents are less than CRCU (Conventional Rents for Comparable Units) providing a market advanatage. The
project will continue to receive 83.3% PBRA and has budgeted for Private Rental Assistance (PRA) to help ensure there is no
negative impact to existing tenants as a result of the proposed rehab.
PROPERTY TAX: Pro forma based on most recent tax bill; See copy (TAB 8).
PROPERTY INSURANCE: Pro forma based on most recent premium invoice; See copy (TAB 8).

REPLACEMENT RESERVES: Annual transfer @ $400 per unit in order to adequately fund 20 year capital reserve needs (per
Post Rehab CNA) and as approved by USDA Rural Development. Note: RD requires trending at 3% annual COST inflation;
however, annual DEPOSIT trends at 1% annual deposit inflation. New Owner is required to follow RD's program requirements
regarding Replacement Reserves.




                                               ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                    Part VI-Revenues & Expenses                            46 of 88
Georgia Department of Community Af f airs                                                                                                                                                                                                                                                                                                                                                                                                                                                     2011 Funding Application                                                                                                                                                                                                                                                                                                                                                                                                           Of f ice of Af f ordable Housing




                                                                                                                                                                                                                                                0 BR       1 BR       2 BR       3 BR       4 BR                                                             0 BR     1 BR     2 BR     3 BR     4 BR      0 BR       1 BR       2 BR       3 BR       4 BR      0 BR      1 BR      2 BR      3 BR        4 BR         0 BR     1 BR      2 BR      3 BR      4 BR      0 BR      1 BR      2 BR      3 BR      4 BR       0 BR       1 BR       2 BR       3 BR       4 BR
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Efficiency
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            New      1 BR New 2 BR New 3 BR New 4 BR New       Efficiency    1 BR       2 BR     3 BR       4 BR    Efficiency    1 BR    2 BR    3 BR    4 BR
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  Effic   1 BR    2 BR    3 BR    4 BR                                                  Construct    Construct Construct Construct Construct      NSP       Acq/Rhb   Acq/Rhb   Acq/Rhb   Acq/Rhb    Rehab       Rehab   Rehab   Rehab   Rehab
                                                        4 BR      Efficiency     1 BR        2 BR        3 BR        4 BR      Efficiency    1 BR       2 BR       3 BR       4 BR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               120%     120%    120%    120%    120%      Effic    1 BR     2 BR     3 BR     4 BR     ion NSP      ion NSP  ion NSP   ion NSP   ion NSP       120%        NSP        NSP      NSP        NSP        NSP        NSP     NSP     NSP     NSP
                                                       Rehab LI    Rehab        Rehab       Rehab       Rehab       Rehab       Rehab        Rehab      Rehab      Rehab      Rehab     0 BR MF    1 BR       2 BR       3 BR       4 BR      SF Det'd   SF Det'd   SF Det'd   SF Det'd   SF Det'd    0 BR       1 BR       2 BR       3 BR       4 BR      Duplex   Duplex   Duplex   Duplex   Duplex   Townhom    Townhom    Townhom    Townhom    Townhom    1-Story   1-Story   1-Story   1-Story     1-Story     2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   2-Story   3+ Story   3+ Story   3+ Story   3+ Story   3+ Story    NSP      NSP     NSP     NSP     NSP     120%      120%     120%     120%     120%       120%         120%     120%      120%      120%      Acq/Rhb       120%      120%      120%      120%       120%       120%    120%    120%    120%
                                                        Units     Mkt Units    Mkt Units   Mkt Units   Mkt Units   Mkt Units   CS Units     CS Units   CS Units   CS Units   CS Units     Units   MF Units   MF Units   MF Units   MF Units    Units      Units      Units      Units      Units     MH Units   MH Units   MH Units   MH Units   MH Units    Units    Units    Units    Units    Units    e Units    e Units    e Units    e Units    e Units    Units     Units     Units     Units       Units       Units     Units     Units     Units     Units     Wlkp      Wlkp      Wlkp      Wlkp      Wlkp      Units      Units      Units      Units      Units     Units    Units   Units   Units   Units   NSP SF    NSP SF   NSP SF   NSP SF   NSP SF      Units        Units    Units     Units     Units       Units       Units     Units     Units     Units      Units      Units   Units   Units   Units
                                                                                                                                                                                                     5                                                                                                                                                                                                                                                                        5
                                                                                                                                                                                                     1                                                                                                                                                                                                                                                                        1
                                                                                                                                                                                                                10                                                                                                                                                                                                                                                                     10
                                                                                                                                                                                                                 2                                                                                                                                                                                                                                                                      2




                                                                                                                                                                                                     6          12                                                                                                                                                                                                                                                           6         12




ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                                                                                                                                                                                                                                                                                                                                            Part VI-Revenues & Expenses                                                                                                                                                                                                                                                                                                                                                                                                                               47 of 88
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011    Part VI-Revenues & Expenses                            48 of 88
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011    Part VI-Revenues & Expenses                            49 of 88
Georgia Department of Community Af f airs              2011 Funding Application       Of f ice of Af f ordable Housing




ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011    Part VI-Revenues & Expenses                            50 of 88
  Georgia Department of Community Affairs                                            2011 Funding Application                                                           Office of Affordable Housing
                                  PART SEVEN - OPERATING PRO FORMA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
I. OPERATING ASSUMPTIONS                                        Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                 Asset Management Fee Amount                                  900          Yr 1 Asset Mgt Fee Percentage of EGI:                       0.93%
Expense Growth            3.00%                                 Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           1.50%                                 Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        8.86%
Vacancy & Collection Loss 7.00%                                    Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                   8,537
Ancillary Income Limit    2.00%                                    Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                     1                2                  3                 4                 5                 6                 7                 8                  9                10
Revenues                          102,528          104,579            106,670           108,804           110,980           113,199           115,463           117,772            120,128           122,530
Ancillary Income                    1,080            1,102              1,124             1,146             1,169             1,192             1,216             1,241              1,265             1,291
Vacancy                            (7,253)          (7,398)            (7,546)           (7,696)           (7,850)           (8,007)           (8,168)           (8,331)            (8,498)           (8,667)
Other Income (OI)                     -                -                  -                 -                 -                 -                 -                 -                  -                 -
OI Not Subject to Mgt Fee             -                -                  -                 -                 -                 -                 -                 -                  -                 -
Expenses less Mgt Fee             (52,914)         (54,501)           (56,136)          (57,821)          (59,555)          (61,342)          (63,182)          (65,078)           (67,030)          (69,041)
Property Mgmt                      (8,537)          (8,793)            (9,057)           (9,329)           (9,608)           (9,897)          (10,194)          (10,499)           (10,814)          (11,139)
Reserves                           (7,200)          (7,308)            (7,418)           (7,529)           (7,642)           (7,756)           (7,873)           (7,991)            (8,111)           (8,232)
NOI                                27,704           27,680             27,637            27,575            27,493            27,389            27,263            27,115             26,941            26,741
                                      -                -                  -                 -                 -                 -                 -                 -                  -                 -
                                      -                -                  -                 -                 -                 -                 -                 -                  -                 -
D/S Mortgage A                    (12,453)         (12,453)           (12,453)          (12,453)          (12,453)          (12,453)          (12,453)          (12,453)           (12,453)          (12,453)
D/S Mortgage B                    (11,480)         (11,480)           (11,480)          (11,480)          (11,480)          (11,480)          (11,480)          (11,480)           (11,480)          (11,480)
D/S Other Source                      -                -                  -                 -                 -                 -                 -                 -                  -                 -
D/S Grant from fdn / charity          -                -                  -                 -                 -                 -                 -                 -                  -                 -
DCA HOME Cash Resrv.
Asset Mgmt                            (900)           (900)               (900)             (900)             (900)             (900)             (900)              (900)             (900)             (900)
DDF                                 (1,600)         (1,600)             (1,600)           (1,600)           (1,600)           (1,600)           (1,600)            (1,600)           (1,600)           (1,600)
Incentive Mgmt                         -               -                   -                 -                 -                 -                 -                  -                 -                 -
Cash Flow                            1,271           1,247               1,204             1,142             1,060               956               830                682               508               308


DCR First Mortgage                     2.22              2.22             2.22              2.21               2.21              2.20              2.19              2.18              2.16              2.15
DCR Second Mortgage                    1.16              1.16             1.15              1.15               1.15              1.14              1.14              1.13              1.13              1.12
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio              1.40             1.39               1.38              1.37              1.36              1.35              1.34              1.32               1.31              1.30
                                      -                -                  -                 -                 -                 -                 -                 -                  -                 -
Mortgage A Balance                180,424          178,751            176,975           175,089           173,087           170,962           168,705           166,309            163,766           161,065
Mortgage B Balance                444,566          437,499            430,361           423,151           415,870           408,514           401,086           393,582            386,003           378,348
Other Source Balance
Other Source Balance
DDF Balance                         18,090          16,490             14,890            13,290             11,690            10,090             8,490             6,890              5,290             3,690


  ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                      Part VII-Pro Forma                                                                                        51 of 88
  Georgia Department of Community Affairs                                            2011 Funding Application                                                             Office of Affordable Housing
                                  PART SEVEN - OPERATING PRO FORMA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
I. OPERATING ASSUMPTIONS                                        Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                 Asset Management Fee Amount                                  900          Yr 1 Asset Mgt Fee Percentage of EGI:                       0.93%
Expense Growth            3.00%                                 Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           1.50%                                 Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        8.86%
Vacancy & Collection Loss 7.00%                                    Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                   8,537
Ancillary Income Limit    2.00%                                    Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                    11               12                 13                14                15                16                17                18                 19                20
Revenues                          124,981          127,481            130,030           132,631           135,284           137,989           140,749           143,564            146,435           149,364
Ancillary Income                    1,317            1,343              1,370             1,397             1,425             1,454             1,483             1,512              1,543             1,573
Vacancy                            (8,841)          (9,018)            (9,198)           (9,382)           (9,570)           (9,761)           (9,956)          (10,155)           (10,358)          (10,566)
Other Income (OI)                     -                -                  -                 -                 -                 -                 -                 -                  -                 -
OI Not Subject to Mgt Fee             -                -                  -                 -                 -                 -                 -                 -                  -                 -
Expenses less Mgt Fee             (71,112)         (73,245)           (75,443)          (77,706)          (80,037)          (82,438)          (84,911)          (87,459)           (90,083)          (92,785)
Property Mgmt                     (11,473)         (11,817)           (12,172)          (12,537)          (12,913)          (13,300)          (13,699)          (14,110)           (14,534)          (14,970)
Reserves                           (8,356)          (8,481)            (8,608)           (8,738)           (8,869)           (9,002)           (9,137)           (9,274)            (9,413)           (9,554)
NOI                                26,516           26,262             25,979            25,665            25,320            24,942            24,528            24,078             23,590            23,063
                                      -                -                  -                 -                 -                 -                 -                 -                  -                 -
                                      -                -                  -                 -                 -                 -                 -                 -                  -                 -
D/S Mortgage A                    (12,453)         (12,453)           (12,453)          (12,453)          (12,453)          (12,453)          (12,453)          (12,453)           (12,453)          (12,453)
D/S Mortgage B                    (11,480)         (11,480)           (11,480)          (11,480)          (11,480)          (11,480)          (11,480)          (11,480)           (11,480)          (11,480)
D/S Other Source                      -                -                  -                 -                 -                 -                 -                 -                  -                 -
D/S Grant from fdn / charity          -                -                  -                 -                 -                 -                 -                 -                  -                 -
DCA HOME Cash Resrv.
Asset Mgmt                            (900)           (900)               (900)             (900)             (900)              (900)             (900)             (900)             (900)             (900)
DDF                                 (1,600)         (1,429)               (661)
Incentive Mgmt                         -               -                   -                 -                   -               -                  -                 -                 -                 -
Cash Flow                                83              0                 485               832                 487             109               (305)             (755)           (1,243)           (1,770)


DCR First Mortgage                     2.13              2.11             2.09              2.06               2.03              2.00              1.97              1.93              1.89              1.85
DCR Second Mortgage                    1.11              1.10             1.09              1.07               1.06              1.04              1.02              1.01              0.99              0.96
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio              1.29             1.28               1.27              1.26              1.25              1.24              1.23              1.22               1.21              1.20
                                      -                -                  -                 -                 -                 -                 -                 -                  -                 -
First Mortgage Balance            158,198          155,154            151,923           148,492           144,849           140,982           136,876           132,517            127,890           122,976
Second Mortgage Balance           370,616          362,806            354,918           346,951           338,903           330,775           322,565           314,273            305,897           297,437
Other Source Balance
Other Source Balance
DDF Balance                          2,090               661                -                 -                  -                -                 -                 -                 -                  -


  ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                      Part VII-Pro Forma                                                                                        52 of 88
  Georgia Department of Community Affairs                                             2011 Funding Application                                                             Office of Affordable Housing
                                  PART SEVEN - OPERATING PRO FORMA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
I. OPERATING ASSUMPTIONS                                         Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                  Asset Management Fee Amount                                  900          Yr 1 Asset Mgt Fee Percentage of EGI:                       0.93%
Expense Growth            3.00%                                  Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           1.50%                                  Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        8.86%
Vacancy & Collection Loss 7.00%                                     Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                   8,537
Ancillary Income Limit    2.00%                                     Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                    21               22                  23                24                25                26                27                 28                29                30
Revenues                          152,351          155,398             158,506           161,676           164,910           168,208           171,572            175,004           178,504           182,074
Ancillary Income                    1,605            1,637               1,670             1,703             1,737             1,772             1,807              1,843             1,880             1,918
Vacancy                           (10,777)         (10,992)            (11,212)          (11,437)          (11,665)          (11,899)          (12,137)           (12,379)          (12,627)          (12,879)
Other Income (OI)                     -                -                   -                 -                 -                 -                 -                  -                 -                 -
OI Not Subject to Mgt Fee             -                -                   -                 -                 -                 -                 -                  -                 -                 -
Expenses less Mgt Fee             (95,569)         (98,436)           (101,389)         (104,430)         (107,563)         (110,790)         (114,114)          (117,537)         (121,063)         (124,695)
Property Mgmt                     (15,419)         (15,881)            (16,358)          (16,849)          (17,354)          (17,875)          (18,411)           (18,963)          (19,532)          (20,118)
Reserves                           (9,697)          (9,843)             (9,990)          (10,140)          (10,292)          (10,447)          (10,604)           (10,763)          (10,924)          (11,088)
NOI                                22,494           21,883              21,226            20,523            19,772            18,969            18,115             17,205            16,238            15,211
                                      -                -                   -                 -                 -                 -                 -                  -                 -                 -
                                      -                -                   -                 -                 -                 -                 -                  -                 -                 -
D/S Mortgage A                    (12,453)         (12,453)            (12,453)          (12,453)          (12,453)          (12,453)          (12,453)           (12,453)          (12,453)          (12,453)
D/S Mortgage B                    (11,958)         (11,958)            (11,958)          (11,958)          (11,958)          (11,958)          (11,958)           (11,958)          (11,958)          (11,958)
D/S Other Source                      -                -                   -                 -                 -                 -                 -                  -                 -                 -
D/S Grant from fdn / charity          -                -                   -                 -                 -                 -                 -                  -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                            (900)              (900)             (900)             (900)             (900)              (900)             (900)             (900)             (900)             (900)
DDF
Incentive Mgmt                         -               -                    -                 -                 -                 -                 -                  -                 -                -
Cash Flow                           (2,817)         (3,428)              (4,085)           (4,788)           (5,539)           (6,342)           (7,196)            (8,106)           (9,073)         (10,100)


DCR First Mortgage                     1.81              1.76              1.70              1.65               1.59              1.52              1.45              1.38              1.30              1.22
DCR Second Mortgage                    0.92              0.90              0.87              0.84               0.81              0.78              0.74              0.70              0.67              0.62
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio              1.19             1.18                1.17              1.16              1.15              1.14              1.13              1.12               1.11              1.10
                                      -                -                   -                 -                 -                 -                 -                 -                  -                 -
First Mortgage Balance            117,760          112,222             106,343           100,100            93,473            86,437            78,967            71,037             62,617            53,678
Second Mortgage Balance           288,412          279,297             270,090           260,790           251,397           241,909           232,327           222,648            212,871           202,997
Other Source Balance
Other Source Balance
DDF Balance                             -                 -                  -                 -                  -                -                 -                 -                 -                  -


  ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                       Part VII-Pro Forma                                                                                        53 of 88
  Georgia Department of Community Affairs                                             2011 Funding Application                                                           Office of Affordable Housing
                                  PART SEVEN - OPERATING PRO FORMA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
I. OPERATING ASSUMPTIONS                                         Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                  Asset Management Fee Amount                                  900          Yr 1 Asset Mgt Fee Percentage of EGI:                       0.93%
Expense Growth            3.00%                                  Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           1.50%                                  Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        8.86%
Vacancy & Collection Loss 7.00%                                     Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                   8,537
Ancillary Income Limit    2.00%                                     Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
Year                                   31               32                  33                34                35
Revenues                          185,715          189,430             193,218           197,083           201,024
Ancillary Income                    1,956            1,995               2,035             2,076             2,118
Vacancy                           (13,137)         (13,400)            (13,668)          (13,941)          (14,220)
Other Income (OI)
OI Not Subject to Mgt Fee
Expenses less Mgt Fee             (128,436)       (132,289)           (136,258)         (140,346)         (144,556)
Property Mgmt                      (20,722)        (21,343)            (21,983)          (22,643)          (23,322)
Reserves                           (11,254)        (11,423)            (11,594)          (11,768)          (11,945)
NOI                                 14,122          12,970              11,750            10,461             9,099
                                       -               -                   -                 -                 -
                                       -               -                   -                 -                 -
D/S Mortgage A                     (12,453)        (12,453)            (12,453)          (12,453)          (12,453)
D/S Mortgage B                     (11,958)        (11,958)            (11,958)          (11,958)          (11,958)
D/S Other Source                       -               -                   -                 -                 -
D/S Grant from fdn / charity           -               -                   -                 -                 -
DCA HOME Cash Resrv.
Asset Mgmt                            (900)              (900)             (900)             (900)             (900)
DDF
Incentive Mgmt                         -               -                   -                 -                  -
Cash Flow                          (11,189)        (12,341)            (13,560)          (14,850)           (16,212)


DCR First Mortgage                     1.13              1.04              0.94              0.84               0.73
DCR Second Mortgage                    0.58              0.53              0.48              0.43               0.37
DCR Other Source
DCR Other Source
Oper Exp Coverage Ratio              1.09             1.08                1.07              1.06              1.05
                                      -                -                   -                 -                 -
First Mortgage Balance             44,188           34,112              23,415            12,057                 0
Second Mortgage Balance           193,023          182,949             172,774           162,497           152,117
Other Source Balance
Other Source Balance
DDF Balance                             -                 -                  -                 -                  -


  ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                       Part VII-Pro Forma                                                                                        54 of 88
   Georgia Department of Community Affairs                                                     2011 Funding Application                                                          Office of Affordable Housing
                                          PART SEVEN - OPERATING PRO FORMA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
I. OPERATING ASSUMPTIONS                                                 Please Note:                  Green-shaded cells are unlocked for your use and contain references/formulas that may be overwritten if needed.
Revenue Growth            2.00%                                          Asset Management Fee Amount                                  900          Yr 1 Asset Mgt Fee Percentage of EGI:                       0.93%
Expense Growth            3.00%                                          Incentive Management Fee Amount                                           Yr 1 Incent Mgt Fee Percentage of EGI:
Reserves Growth           1.50%                                          Property Mgt Fee Growth Rate (choose one):                                Yr 1 Prop Mgt Fee Percentage of EGI:                        8.86%
Vacancy & Collection Loss 7.00%                                             Expense Growth Rate (3.00%)                                Yes --> If Yes, indicate Yr 1 Mgt Fee Amt:                                   8,537
Ancillary Income Limit    2.00%                                             Percent of Effective Gross Income                            No --> If Yes, indicate actual percentage:
II. OPERATING PRO FORMA
III. Applicant Comments & Clarifications                                                                                           IV. DCA Comments

OTHER INCOME: Is NOT calculated based on DCA's typical default of 2% gross revenue. The application template has been modified
by DCA to allow us to more accurately reflect historical actual (which, excluding interest income, is approximately $1,080.)



REPLACEMENT RESERVES TRENDING: Is NOT calculated based on DCA default of 3%, this application has been modified by DCA
to allow us to reflect our UW assumption. New Owner must follow the USDA RD approved replacement reserve schedule based on a 20-
year post rehab capital needs assessment. RD trending factors are 3% annual cost inflation, 1% annual deposit inflation.


DSCR: Based on the above underwriting exceptions, senior debt is at or above 1.25 DSCR during the compliance period; All-in DSCR
is at or above 1.05 as approved by the FNMA lender, RD (subordinate lender) and LIHTC syndicator during the compliance period.




   ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                Part VII-Pro Forma                                                                                      55 of 88
                Georgia Department of Community Affairs                                                                                                                                         2011 Funding Application                  Office of Affordable Housing
                                    PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                                  Applicant                    DCA
                                                                                                                                                                                Response                     USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
DCA's Comments / Approval Conditions:
1.)
                                                                                                                                                                                                                        Please increase
2.)
3.)
                                                                                                                                                                                                                        or decrease row
4.)                                                                                                                                                                                                                     size as needed.
5.)
6.)
7.)
8.)
                                                                                                                                                                                                                        Please increase
9.)
10.)
                                                                                                                                                                                                                        or decrease row
11.)                                                                                                                                                                                                                    size as needed.
12.)
13.)
14.)
15.)
                                                                                                                                                                                                                        Please increase
16.)
17.)
                                                                                                                                                                                                                        or decrease row
18.)                                                                                                                                                                                                                    size as needed.
19.)
20.)


1      Project Feasibility, Viability Analysis, and Conformance with Plan                                                                                                       Pass?

       A. Are any commitments submitted as “Under Consideration” which need final approval before July 29, 2011?                                                                     A)       No
       B. If yes, then state the applicable financial assistance/funding:                                                     << Select >>
       Applicant's comments regarding this section of Threshold:
                                                                                                                                                                                                                        Row size may be
                                                                                                                                                                                                                          increased.
       DCA's Comments:

                                                                                                                                                                                                                        Row size may be
                                                                                                                                                                                                                          increased.




2      Tenancy Characteristics                                                                                                                                                  Pass?

          This project is designated as:                                                                         Family                                                                      Yes
       Applicant's comments regarding this section of Threshold:                                                DCA's Comments:


3      Required Services                                                                                                                                                        Pass?

       A. Applicants certify that all selected services will meet QAP policies. Does Applicant agree?                                                                                         Agree
    B. Specify below at least 1 basic ongoing service from categories listed in QAP for Family projects, or at least 2 basic ongoing services from categories listed in QAP for Senior projects:
        1) Social and recreational programs planned and overseen by project mgr                                                                                                        1)      Yes
        2) Semi-monthly classes conducted on site                                                                                                                                      2)
        3) Other service approved by DCA                                                                                  3)
    Applicant's comments regarding this section of Threshold:
The managing agent anticipates participation in CAHEC Community Programs to help facilitate these programs.

       DCA's Comments:




                ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                                  Part VIII-Threshold Criteria                             56 of 88
               Georgia Department of Community Affairs                                                                                                                                           2011 Funding Application          Office of Affordable Housing
                                     PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                                     Applicant               DCA
                                                                                                                                                                                   Response                USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
4    Market Feasibility                                                                                                                                                            Pass?

     A.  Provide the name of the market study analyst used by applicant:                                                                      A.   Bowen National Research
     B.  Project absorption period to reach stabilized occupancy                                                                              B.   < 1 mos. (In-Place Rehab, currently 88.8% occupied)
     C.  Stabilization period                                                                                                                 C.   3 months if tenants displaced - Not Applicable
     D.  Overall capture rate for credit units                                                                                                D.   Effective Rate 0.0%
     E.  List DCA tax credit projects (inside a 2-mile radius for urban or, for rural, the greater of a 10-mile radius or the local
                                                                                                                                                                                       E.      No
         jurisdiction) for years 2008 - 2010. Include both DCA project number and project name in each case.
               Project Nbr Project Name                                  Project Nbr Project Name                                     Project Nbr Project Name
           1                                                          4                                                           7
           2                                                          5                                                           8
           3                                                          6                                                           9
      F. Does the unit mix/rents and amenities included in the application match those provided in the market study?                                                                   F.     Yes
     Applicant's comments regarding this section of Threshold:
For the years 2008-2010, there are no DCA Tax Credit projects within a 10 mile area (rural) or local jurisdiction.
NOTE: Due to lack of comparables, the market analyst expanded the search. Three (3) LIHTC properties located were identified and surveyed. These properties are located in Americus targeting households
with incomes up to 30%, 50% and/or 60% of AMHI; therefore, they will not compete with the subject project as they draw support from different geographic and demographic areas.


     DCA's Comments:



5    Appraisals                                                                                                                                                                    Pass?

     A. Is there is an identity of interest between the buyer and seller of the project?                                                                                              A.     Yes
     B. Is an appraisal included in this application submission?                                                                                                                      B.     Yes
             If an appraisal is included, indicate Appraiser's Name and answer the following questions:           Appraiser's Name:                                            Crown Appraisal Group
         1) Does it include the “as is” value, "as built/as complete" (encumbered), "as built/ as complete" (unencumbered) values of the proposed subject property and                 1)
                                                                                                                                                                                              Yes
             tax credit value?
          2) Does the “as is” value delineate the value of the land and building?                                                                               2)     Yes
          3) Does the total hard cost of the project exceed 90% of the as completed unencumbered appraised value of the property?                               3)      No
      C. If an identity of interest exists between the buyer and seller, did the seller purchase this property within the past three (3) years?                C.       No
      D. Has the property been:
          1) Rezoned?                                                                                                                                           1)      No
          2) Subdivided?                                                                                                                                        2)      No
          3) Modified?                                                                                                                                          3)      No
     Applicant's comments regarding this section of Threshold:
IOI BETWEEN BUYER AND SELLER: Kenneth Wheat is a GP of the seller, as well as a member of WWJ, LLC, the 0.01% Managing Member of the Buyer: However, no change of ownership has occurred
within the past three (3) years.


     DCA's Comments:




               ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                                 Part VIII-Threshold Criteria                        57 of 88
             Georgia Department of Community Affairs                                                                                                                       2011 Funding Application              Office of Affordable Housing
                                  PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                 Applicant            DCA
                                                                                                                                                               Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
6   Environmental Requirements                                                                                                                                 Pass?

    A. Name of Consultant that prepared the Phase I Assessment:                                                                       A. EMG Corp
    B. Is a Phase II Environmental Report included?                                                                                                               B.   No
    C. Was a Noise Assessment performed?                                                                                                                          C.   No
       1) If "Yes", provide the maximum noise level on site in decibels:
       If "Yes", what are the contributing factors in decreasing order of magnitude?

    D. Is the subject property located in a:                                                                                                                      D.
        1) Brownfield?                                                                                                                                            1)   No
        2) 100 year flood plain / floodway?                                                                                                                       2)   No
            If "Yes", percentage of site that is within a floodplain:
            If "Yes", will any development occur in the floodplain?
                If "Yes", is documentation provided as per Threshold criteria?
        3) Wetlands?                                                                                                                                              3)   No
            If "Yes", enter the percentage of the site that is a wetlands:
            If "Yes", will any development occur in the wetlands?
                If "Yes", is documentation provided as per Threshold criteria?
        4) State Waters/Streams area?                                                                                                                             4)   No
    E. Has the Environmental Professional identified any of the following on the subject property:                                                                E.
        1) Asbestos?                             No                            3) PCB's?             No                                5) Lead in water   No
        2) Lead-based paint?                     No                            4) Mold?              No                                6) Radon?          No
        7) Other (e.g., endangered species, Native American burial grounds, etc.):
    F. Is all additional environmental documentation required for a HOME application included?                                                                    F.   N/A
        1) Eight-Step Process for Wetlands and/or Floodplains required?                                                                                           1)
        2) Has Applicant/PE completed the HOME and HUD Environmental Questionnaire?                                                                               2)
        3) Owner agrees that they must refrain from undertaking any activities that could have an adverse effect on the subject property?                         3)
    G. If HUD approval has been previously granted, has the HUD Form 4128 been included?                                                                          G.   N/A
    Applicant's comments regarding this section of Threshold:

                                                                                                                                                                                               Row size may be
1) Exception granted by DCA, eliminating NOISE STUDY requirement for existing USDA property.
                                                                                                                                                                                                 increased.
    DCA's Comments:

                                                                                                                                                                                               Row size may be
                                                                                                                                                                                                 increased.




             ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                            Part VIII-Threshold Criteria                             58 of 88
              Georgia Department of Community Affairs                                                                                                                                2011 Funding Application         Office of Affordable Housing
                                   PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                           Applicant            DCA
                                                                                                                                                                         Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
7   Site Control                                                                                                                                                         Pass?
    A. Is site control provided through October 31, 2011?                                                                                                                   A.   Yes
    B. Form of site control:                                                                                                                    B. Contract/Option
    C. Name of Entity with site control:                                                                   C.                  New Shady Grove Apartments, LLC                   Yes
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:



8   Site Access                                                                                                                                                          Pass?
    A. Is this site legally accessible by paved roads and are drawings or photographs included showing these roads?                                                         A.   Yes
    B. If access roads are not in place, does the application contain documentation evidencing a local commitment for the funding and the timetable for the completion      B.
       of such paved roads?
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:



9   Site Zoning                                                                                                                                                          Pass?
    A. Is Zoning in place at the time of this application submission?                                                                                                       A.   Yes
    B. Is Zoning conformance in writing by the authorized Local Government official, and includes the zoning & land use classifications?                                    B.   Yes
    C. Is documentation provided that demonstrates that the site layout conforms to any moratoriums, density, setbacks or other requirements?                               C.   Yes
    D. Is this information included on the Architectural Site Conceptual Development Plan?                                                                                  D.   Yes
    E. Are all issues and questions surrounding the zoning and land use classification clearly defined prior to this application submission?                                E.   Yes
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:



10 Operating Utilities                                                                                                                                                   Pass?
     A. Check applicable utilities and enter provider name:                    1) Gas           <<Enter Provider Name Here>>                                                1)
                                                                               2) Electric      City of Ellaville                                                           2)   Yes
    Applicant's comments regarding this section of Threshold:
Gas service not provided to the site.
    DCA's Comments:




              ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                     Part VIII-Threshold Criteria                        59 of 88
            Georgia Department of Community Affairs                                                                                                                                    2011 Funding Application                Office of Affordable Housing
                                  PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                          Applicant                 DCA
                                                                                                                                                                        Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
11 Public Water/Sanitary Sewer/Storm Sewer                                                                                                                              Pass?

   A. 1) Is there a Waiver Approval Letter From DCA included in this application for this criterion as it pertains to single-family detached Rural projects?               A1)
       2) If Yes, is the waiver request accompanied by an engineering report confirming the availability of water and the percolation of the soil?                          2)
   B. Check all that are available to the site and enter provider             1) Public water City of Ellaville                                                            B1)      Yes
      name:                                                                   2) Public sewer City of Ellaville                                                             2)      Yes
   Applicant's comments regarding this section of Threshold:

   DCA's Comments:


12 Local Government Support and Community Engagement                                                                                                                    Pass?
   Does documentation include:
   A. Evidence of public meetings regarding the proposed project to local government and residents of the community?                                                        A.      Yes
   B. Evidence of presentations regarding the proposed project to local government and residents of the community?                                                          B.      Yes
   C. Resolutions of support from local government officials?                                                                                                               C.      Yes
   D. Letters of support from local government officials?                                                                                                                   D.      Yes
   Applicant's comments regarding this section of Threshold:
                                                                                                                                                                                                             Row size may be
                                                                                                                                                                                                               increased.
   DCA's Comments:




13 Required Amenities                                                                                                                                                   Pass?
   Is there a Pre-Approval Form from DCA included in this application for this criterion?                                                                                           Yes
    A. Applicant agrees to provide the following required Standard Site Amenities in conformance with the DCA Amenities Guidebook (select one in each category):
        1) Community area (select either community room or community building):                                       A1) Room                                                    Disagree
        2) Exterior gathering area (if "Other" is selected, applicant must explain in Comments Section below):        A2) Covered Porch                                            Agree
        3) On site laundry type:                                                                                      A3) On-site laundry                                         Disagree
   B. Applicant agrees to provide the following required Additional Site Amenities to conform with the DCA Amenities Guidebook.                                               B. Disagree
      The nbr of amenities required depends on the total unit count: 1-125 units = 2 amenities, 126+ units = 4 amenities;                                                           Additional Amenities
         Additional Amenities (describe in space provided below)                 Guidebook Met? DCA Pre-approved?      Additional Amenities (describe in space provided below) Guidebook Met? DCA Pre-approved?
      1)                                                                                                           3)
      2)                                                                                                           4)
   C. Applicant agrees to provide the following required Unit Amenities:                                                                                                    C.     Agree
      1) HVAC                                                                                                                                                               1)      Yes
      2) Refrigerator (Energy Star rated)                                                                                                                                   2)      Yes
      3) Dishwasher (Energy Star rated)                                                                                                                                     3)      Yes
      4) Stove                                                                                                                                                              4)      Yes
      5) a. Powder-based stovetop fire suppression canisters installed above the range cook top, OR                                                                        5a)      Yes
         b. Electronically controlled solid cover plates over stove top burners                                                                                            5b)




            ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                           Part VIII-Threshold Criteria                             60 of 88
              Georgia Department of Community Affairs                                                                                                                                             2011 Funding Application                  Office of Affordable Housing
                                    PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                                     Applicant                 DCA
                                                                                                                                                                                   Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
     D. Applicant agrees to provide the following additional required Amenities for Senior projects:                                                                                   D.
         1) Elevators are installed for access to all units above the ground floor.                                                                                                    1)
         2) Buildings more than two story construction have interior furnished gathering areas in several locations in the lobbies and/or corridors                                    2)
         3) a. 100% of the units are accessible and adaptable, as defined by the Fair Housing Amendments Act of1988                                                                   3a)
             b. If No, was a DCA Architectural Standards waiver granted?                                                                                                              3b)
     Applicant's comments regarding this section of Threshold:
13 A - No community room exists (waiver requested). Per the revised standards by DCA, W/D connections (equipment provided by tenant) are installed in each unit (see Tab 8B).
13 B - Per the revised design standards provided by DCA, additional site amenity requirements have been eliminated. The owner will install a new picnic area with pavillion, picnic table, and grill. See (TAB 8 - 1.b)
for DCA's revised design requirements.                                                                                                                                                                                    Row size may be
                                                                                                                                                                                                                            increased.

    DCA's Comments:




14 Rehabilitation Standards (Rehabilitation Projects Only)                                                                                                                         Pass?

     A. Type of rehab (choose one):                                                                                                    A. Wholesale                            <<Select>>
     B. Date of PNA:                                                                                                                   B. April 12, 2012
     C. Name of consultant preparing PNA:                                                                                              C. EMG Corp
     D. Is 20-year replacement reserve study included?                                                                                                                      D.      Yes
     E. Applicant understands that in addition to propose work scope, the project must meet state and local building codes, DCA architectural                               E.
                                                                                                                                                                                   Agree
        requirements as set forth in the QAP and Manuals, and health and safety codes and requirements. Applicant agrees?
     Applicant's comments regarding this section of Threshold:
Applicant agrees to abide by the DCA architectural requirements as set forth in the QAP and Manuals, or as amended by DCA revised design standards. See Revised Design Standards in (TAB 8) for details.
                                                                                                                                                                                                                          Row size may be
                                                                                                                                                                                                                            increased.
    DCA's Comments:




15 Site Information and Conceptual Site Development Plan                                                                                                                           Pass?
       A. Is the Conceptual Site Development Plan included in this application and has it been prepared in accordance with instructions set forth in the Manual?                        A.      Yes
       B. Are all site related amenities required and selected in this application indicated on the Conceptual Site Development Plan?                                                   B.      Yes
      Applicant's comments regarding this section of Threshold:
All site related amenities as required by the revised design plan are indicated on the Conceptual Site Development Plan. See (TAB 17) for details.
                                                                                                                                                                                                                          Row size may be
                                                                                                                                                                                                                            increased.
    DCA's Comments:




              ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                                    Part VIII-Threshold Criteria                               61 of 88
              Georgia Department of Community Affairs                                                                                                                                             2011 Funding Application                Office of Affordable Housing
                                     PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                                     Applicant                 DCA
                                                                                                                                                                                   Response                  USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
16 Building Sustainability                                                                                                                                                         Pass?

     A. Applicant agrees that this proposed property must achieve a minimum standard for energy efficiency and sustainable building practices upon construction                        A.
        completionas set forth in the QAP and Manual?.                                                                                                                                       Disagree

     B. Applicant agrees that the final construction documents must clearly indicate all components of the building envelope and all materials and equipment that meet                 B.
        the requirements set forth in the QAP and Architectural Manual?.                                                                                                                      Agree

     C. For 4% credit projects, applicant agrees that the project must also include additional sustainability items as outlined in the Exhibit A to Appendix I Building        B.
        Sustainability Certification, and that the Building Sustainability Certification must be submitted with the Step II architectural documents submission detailing how        Disagree
        the minimum standard will be achieved?
    Applicant's comments regarding this section of Threshold:
16 A & C - Per the revised design standards provided by DCA, Building Sustainability requirements as outlined in the QAP and Manual have been modified; however, applicant acknowledges DCA's right to
engage in third party energy efficiency consultant. See DCA's revised policy changes (TAB 8 - 3) for details.                                                                                                           Row size may be
                                                                                                                                                                                                                          increased.
    DCA's Comments:




17 Accessibility Standards                                                                                                                                                         Pass?
     A. Does this project comply with all applicable Federal and State accessibility laws including but not limited to The Fair Housing Act, Section 504,                              A.      Yes
        American with Disabilities Act, Georgia Fair Housing Law and Georgia Access Law?
     B. Does this project comply with applicable DCA accessibility requirements detailed in the Accessibility Manual of the 2011 Application Manual?                                   B.      Yes
     C. Are at least 5% of the total units equipped for the mobility disabled, including wheelchair restricted residents, and at least 2% of the total units (to be part of this
                                                                                                                                                                                       C.       No
        5%) are equipped with roll-in showers?
     D. Are at least an additional 2% of the total units equipped for hearing and sight-impaired residents?                                                                             D.       Yes
     E. Applicant agrees to arrange for the preconstruction plan review and inspection of the project by a DCA-qualified consultant 3 times during construction in order
                                                                                                                                                                                         E.      Yes
        to certify the project's as-built compliance with accessibility regulations?
    Applicant's comments regarding this section of Threshold:
17 C - One (1) units or 5.6% are equipped for the mobility disabled, including wheelchair restricted residents; however, units are not required to provide roll in showers as per the DCA revised design stanards.
See (TAB 8 - 4) for details.                                                                                                                                                                                            Row size may be
                                                                                                                                                                                                                          increased.
    DCA's Comments:




              ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                                    Part VIII-Threshold Criteria                             62 of 88
              Georgia Department of Community Affairs                                                                                                                                         2011 Funding Application                 Office of Affordable Housing
                                    PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                                 Applicant                DCA
                                                                                                                                                                               Response                 USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
18 Architectural Design & Quality Standards                                                                                                                                    Pass?
    Is there a Waiver Approval Letter From DCA included in this application for this criterion?                                                                                            No
    Does this application meet the Architectural Standards contained in the Application Manual for quality and longevity?                                                                  Yes
     A. Constructed and Rehabilitation Construction Hard Costs - are the following minimum review standards for rehabilitation projects met or exceeded by this project?
         Rehabilitation projects will be considered for funding only if the per unit rehabilitation hard costs exceed $25,000 for properties less than 20 years old and the        A.       No
         per unit rehabilitation hard costs exceed $30,000 for properties that exceed 20 years old. The costs of furniture, fixtures, construction of community buildings
         and common area amenities are not included in these amounts.
     B. Standard Design Options for All Projects                                                                                                                                   B.       No
         1) Exterior Wall Finishes (select one)         <<Select exterior material /finish upgrade choice from options provided here>>                                             1)       No

         2) Attractive Features (select two)            <<Select attractive features>>                                                                                             2)       No
                                                        <<Select attractive features>>                                                                                                      No
         3) Major Bldg Component Materials &            <<Select materials>>                                                                                                       3)       No
            Upgrades (select one)
         4) Landscaping and Site Design Features        <<Select landscaping or site design feature>>                                                                              4)       No
            (select two)                                <<Select landscaping or site design feature>>                                                                                       No
     Applicant's comments regarding this section of Threshold:
18. Architectural Design & Quality Standards have been modified by DCA. See (TAB 8) for details.

18 A - In accordance with the DCA revised design standards, a minimum hard cost per unit has been eliminated. (See TAB 8 - 2.a.i) Hard cost adequately meets the property's needs. See Tab 8 for detailed            Row size may be
SOW. 18 B - Per DCA's revised design standards (see TAB 8 - 5.a), warranty information is provided to evidence remaining useful life (RUL) of exterior wall finishes of at least 15 years (See TAB 4). Per DCA's
                                                                                                                                                                                                                       increased.
revised design standards, attractive features, major building component materials & upgrades, and landscaping requirements are not applicable (see TAB 8 - 5.d).


    DCA's Comments:



19 Qualifications for Project Participants (Performance)                                                                                                                       Pass?

    Is there a pre-application Qualification of Project Participants Determination from DCA included in this application for this criterion?                                                No
    Has there been any change in the Project Team since the initial pre-application submission?
    DCA's pre-application Qualification of Project's Participants Determination indicated a status of (select one):
    DCA Final Determination
    Applicant's comments regarding this section of Threshold:
Per DCA, the first two (2) pages of the Performance Workbook is to be submitted with each core application; refer to to the master submitted in December for Oak Village for the remainder of the performance
workbook. Therefore, a pre-determination of Project Participants has not been obtained.                                                                                                                            Row size may be
                                                                                                                                                                                                                     increased.
    DCA's Comments:




              ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                               Part VIII-Threshold Criteria                               63 of 88
              Georgia Department of Community Affairs                                                                                                                                   2011 Funding Application         Office of Affordable Housing
                                    PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                              Applicant            DCA
                                                                                                                                                                            Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
20 Compliance History Summary                                                                                                                                               Pass?

      A. Has the principal and entities of each General Partner, Developer, Management Company and Project Consultant(s) submitted a complete and correct DCA                  A.
                                                                                                                                                                                    Yes
         Compliance History Summary Form?
      B. Are five fully executed DCA Uniform Release Forms included in the application?                                                                                        B.   No
      C. Is the completed compliance questionnaire for each General Partner, Developer, and project consultant(s) included in the application?                                 C.   Yes
      D. Has Applicant included appropriate documentation or releases from other state housing agencies (both the MultiState Release Form and the Uniform Release              D.
                                                                                                                                                                                    Yes
         Form)?
     Applicant's comments regarding this section of Threshold:
Multi-state release forms were mailed from the state housing agencies directly to DCA (NCHFA, SCSHFDA). We have not received copies of the executed forms.


    DCA's Comments:




21 Eligibility for Credit under the Nonprofit Set-Aside                                                                                                                     Pass?
     A. Name of Qualified Nonprofit:                                                                             A.
     B. Is the organization a qualified nonprofit, defined as a 501c(3) or 501c(4) organization not affiliated or controlled by a for-profit organization, and                 B.
        whose tax-exempt purpose is the fostering of low-income housing?
     C. Does the qualified nonprofit materially participate in the project as described in IRC Section 469(h)?                                                                 C.
     D. Does the qualified nonprofit own at least 51% of the GP's interest in the project and is the managing general partner of the ownership entity?                         D.
     E. If the nonprofit is also a developer of the project, does the nonprofit receive a percentage of the developer fee greater than or equal to its percentage of its       E.
        ownership interest?
      F. Is a copy of the GP joint venture agreement that indicates nonprofit's general partnership interest and developer fee amount included in application?                 F.
    Applicant's comments regarding this section of Threshold:
N/A - Applicant is a For Profit entity.

    DCA's Comments:


22 Eligibility for HOME Loans under the CHDO Set-Aside*                                                                                                                     Pass?
     A.  Name of CHDO:                                                                                       A.
     B.  Is a copy of the State CHDO pre-qualification/renewal letter included in the Application?                                                                             B.
     C.  Is the CHDO either the sole general partner of the ownership entity or the managing general partner of the ownership entity?                                          C.
     D.  If the CHDO is a general partner with a for-profit or nonprofit general partner, does the CHDO own at least 51% of the general partnership interest?                  D.
     E.  Does the CHDO (or a wholly owned or controlled affiliate) receive a percentage of the Developer Fee greater than or equal to the percentage of ownership              E.
         interest?
      F. Is a copy of the GP/joint venture agreement indicating CHDO’s GP interest and its share (or the share of the wholly owned and controlled affiliate) of Developer      F.
         Fee included in Application?
     G. Do all parties understand that the CHDO must exercise effective control of the partnership throughout the period of affordability?                                     G.
    Applicant's comments regarding this section of Threshold:
N/A - HOME funds are not requested.

    DCA's Comments:




              ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                        Part VIII-Threshold Criteria                        64 of 88
              Georgia Department of Community Affairs                                                                                                                                           2011 Funding Application                 Office of Affordable Housing
                                    PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                                      Applicant               DCA
                                                                                                                                                                                    Response                USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
23 Additional Reporting Requirements                                                                                                                                                Pass?
     A. The Census Tract for the property is characterized as [Choose either Minority concentration (50% or more minority), Racially                         A.        Racially mixed           <<Select>>
        mixed (25% - 49% minority), or Non-minority (less than 25% minority)]:
     B. List all contiguous Census Tracts:                       B. 9802; 9801; 9503; 9802; 9803; 9602;                                                                                      Yes
    C. Is Contract Addendum included in Application?                                                                                                                                    C.   No
    Applicant's comments regarding this section of Threshold:
See TAB 23 - HUD Form 935-2A (Affirmative Fair Housing Marketing Plan) for specific demographic characteristics.
                                                                                                                                                                                                                       Row size may be
                                                                                                                                                                                                                         increased.
    DCA's Comments:




24 Required Legal Opinions                State legal opinions included in application using boxes provided.                                                                        Pass?
    A. Credit Eligibilty for Acquisition                                                                                                                                                A.   Yes
    B. Credit Eligibilty for Assisted Living                                                                                                                                            B.   No
    C. Nonprofit Federal Tax Exempt Status                                                                                                                                              C.   No
    D. Accessibility Standards                                                                                                                                                          D.   No
    E. Other (If Yes, then also describe):                    E.                                                                                                                             No
    Applicant's comments regarding this section of Threshold:

    DCA's Comments:


25 Georgia Housing Search                                                                                                                                                           Pass?
     A. Applicant agrees that if Application is selected for funding, then the Applicant will list all of its existing developments in the Georgia Housing Search within six            A.
                                                                                                                                                                                             Agree
        months of selection. I agree.
    B. Has Applicant registered all available affordable Housing Units previously funded by DCA on the Georgia Housing Search website?                                                  B.   Yes
    Applicant's comments regarding this section of Threshold:                                                DCA's Comments:




              ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                                   Part VIII-Threshold Criteria                             65 of 88
              Georgia Department of Community Affairs                                                                                                                                 2011 Funding Application                Office of Affordable Housing
                                    PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                            Applicant              DCA
                                                                                                                                                                          Response               USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
26 Relocation and Displacement of Tenants                                                                                                                                 Pass?
    A. Does the Applicant anticipate displacing or relocating any tenants?                                                                                                   A.   No
    B. 1) Are any of the sources other than DCA HOME considered to be Federal Funding?                                                                                      B1)   Yes
       If Yes, applicant will need to check with the source of these funds to determine if this project will trigger the Uniform Relocation Act or 104(d).
       2) Will any funding source used trigger the Uniform Relocation Act or HUD 104 (d) requirements?                                                                       2)   No
    C. Is sufficient comparable replacement housing identified in the relocation plan according to DCA relocation requirements?                                              C.   Yes
    D. Provide summary data collected from Relocation Displacement Spreadsheet:                                                                                              D.
       1) Number of Over Income Tenants                                                                                                                                      1)   One
       2) Number of Rent Burdened Tenants                                                                                                                                    2)   None
       3) Number of Vacancies                                                                                                                                                3)   Two
       4) Number of Down units                                                                                                                                               4)   None
       5) Number of Displaced Tenants                                                                                                                                        5)   None
    E. Indicate Proposed Advisory Services to be used (see Relocation Manual for further explanation):                                                                       E.
       1) Individual interviews                                                                                                                                              1)   Yes
       2) Meetings                                                                                                                                                           2)   Yes
       3) Written Notifications                                                                                                                                              3)   Yes
       4) Other - describe in box provided:                        4)
    Applicant's comments regarding this section of Threshold:



    DCA's Comments:




27 Marketing to Populations with Disabilities or the Homeless                                                                                                             Pass?
     A. If selected, the Applicant agrees to prepare and submit a Marketing Plan outlining how the project will market units to tenants with special needs?                  A.   Agree
     B. If selected, the Applicant agrees to provide reasonable accommodation for these tenants in the Property Management’s tenant application?                             B.   Agree
     C. If selected, the Applicant agrees to designate these populations as having priority for units with rental assistance if allowable under their rental assistance      C.   Agree
        agreements?
    Applicant's comments regarding this section of Threshold:
See TAB 23 for Marketing Plan.
                                                                                                                                                                                                            Row size may be
                                                                                                                                                                                                              increased.
    DCA's Comments:




              ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                        Part VIII-Threshold Criteria                             66 of 88
            Georgia Department of Community Affairs                                                                                                                                            2011 Funding Application              Office of Affordable Housing
                                  PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                                                                     Applicant            DCA
                                                                                                                                                                                   Response             USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)
28 Optimal Utilization of Resources                                                                                                                                                Pass?
   Applicant's comments regarding this section of Threshold:
                                                                                                                                                                                                                   Row size may be
   DCA's Comments:                                                                                                                                                                                                   increased.




   C. Viability Analysis                                                                                                                                                    C.
                                                                                                                                                                            1)
      1) Has a sensitivity analysis been conducted for the project to determine the affect of slow lease up or reduced rents on the viability of the project? If Yes, attach.
      2) What percentage of the Developer’s Fee is deferred (to confirm that it is not over 50%)?                                                                           2)
      3) Does the Debt Coverage Ratio fall below the DCA minimum within the first 15 years for the proposed project?                                                        3)
      4) What percentage of the funding sources is cash flow debt?                                                                                                          4)
      5) Are the tax credit rents set at 95% of the allowed maximum rent under the Tax Credit Program?                                                                      5)
      6) Does the vacancy and collection rate reflect the higher of 7% or the actual market vacancy and collection loss for similar properties?                             6)
      7) What is the projected repairs cost per unit in the application?                                                                                                    7)
      8) What is the projected repairs cost for the common area?                                                                                                            8)
      9) Are replacement reserves based on a Physical Needs Assessment or the minimum?                                                                                      9)
      10) a) Does the Operating Deficit Reserve exceed the minimum?                                                                                                         10a)
      10) b) If yes, why?
      11) Is the PBRA contract for at least 10 years?                                                                                                                       11)
      12) What is the cash flow to operating expense ratio?                                                                                                                 12)
      13) Please provide the basis for projected expenses:           <<Select>>                                                                                             13)



       (Select a unit amenity from options provided here)                                         (Select an amenity from options provided here)
       Microwave Oven in every unit                                                               <<Select>>
       In-sink disposal in every unit                                     Arts & Crafts / Activity Center
       Built in dishwasher in every unit                                  Attractively fenced community gardens
       Installed call system in all units                                 Baseball Field
       High-speed internet access No Cost                                 Beauty Parlor
       High-speed internet access Low Cost                                Complete built-in fire sprinkler system
                                                                          Covered pavilion w/ picnic/barbecue facilities
       <<Select>>                                                         Equipped Computer Center
       Construction of on-site access road req'd for property access      Equipped Playground
       Construction of off-site access road req'd for property access     Equipped soccer field
       Development of parks on a master plan development site             Equipped walking path w/exercise stations or sitting areas
       Development of green space on a master plan development site       Furnished Exercise/Fitness Center
       Development of walking trails on a master plan development site    Furnished Library
       Development of YMCA center                                         Movie Theater
       Development of youth center                                        Putting Green
       Development of senior center                                       Shuffleboard Court
       Construction of sidewalks adjacent to the property                 Swimming Pool
       Construction of streetscape adjacent to the property               Tennis court
       Construction of sidewalks and streetscape adjacent to the property Wellness Center
       Other (See comments)



       Additional Required Project Amenities for 4% Tax Credit Projects
       <<Select>>
       Microwave Oven in every unit
       In-sink disposal in every unit
       Built in dishwasher in every unit
       Installed call system in all units, including a buzzer and light to the exterior
       High-speed internet access
       Attractively fenced community gardens
       Equipped soccer field
       Tennis court
       Equipped walking path with exercise stations or sitting areas
       Retention pond / fountain
       Equipped playground
       Covered pavilion with picnic/barbecue facilities to encourage community or family reunion type functions
       Furnished Children’s Activity center
       Furnished Library
       Equipped Computer Center
       Furnished Exercise/Fitness Center
       Furnished sitting areas by elevators
       Swimming Pool
       Complete built-in fire sprinkler system in every unit and the community center, including an exterior audio and visual alarm system


            ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                                                                 Part VIII-Threshold Criteria                             67 of 88
        Georgia Department of Community Affairs                                                                                                     2011 Funding Application                                                                                                                  Office of Affordable Housing
                         PART EIGHT - THRESHOLD CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Preliminary Rating: Incomplete                                                                                                          Applicant             DCA
                                                                                                                                        Response              USE
FINAL THRESHOLD DETERMINATION (DCA Use Only)


    Energy Standards
    (Select an energy standard from options provided here)
    EPA Energy Star Program construction and certification:
    Southface Energy Institute's Earth Craft House construction and certification
    US Green Building Council's LEED For Homes construction and certification
    Enterprise Foundation's Green Communities standard of construction and certification
    Locate HVAC ductwork in conditioned spaces
    Exterior envelope wall systems, including the rim (band) joist spaces, to be insulated
    Attic insulation to R-38
    ARI rated furnace (90% AFUE) or heat pump (HSPF 8.0 for both HP 2 ton and HP 1.5 ton units)
    ARI rated SEER 14 cooling equipment with sensible heat ratio less than 0.75
    Locate HVAC ductwork in conditioned spaces
    Installation of at least two plumbing fixture types having lower flow rates than NEPA standards
    Installation of Energystar “Advanced Lighting Package” throughout the property
    HVAC system designed for controlled introduction of outside air per ASHRAE 62.2
    Installation of common area lighting with Energystar rating and controlled with either photocells or timers
    Combustion equipment isolated in a sealed combustion closet that is vented from outside building envelope
                                                                                       damper
    Kitchen range hood ventilation to be ducted to the exterior and equipped with a Major Bldg Component Materials & Upgrades
    Energystar ceiling fans in living rooms, sunrooms and all bedrooms                <<Select materials>>
    Energystar bath exhaust fan with timer and humidistat control                     Fiber cement siding, hard stucco and/or wood siding will be installed on all exterior wall surfaces not already required to be brick
    Front Loading washers in Community Laundry                                        Upgraded roofing shingles, or roofing materials
                                                                                      Interior package upgrade
    Landscaping and Site Design Features                                              Exterior Wall Finishes and Major Building Component Materials and Upgrades
    <<Select landscaping or site design feature>>                                     <<Select exterior material /finish upgrade choice from options provided here>>
    Preservation of existing trees and vegetation                                     Exterior wall faces will have an excess of 40% brick or stone on each total wall surface
    Substantial replanting of trees and integrated vegetation                         Rehab of bldgs eligible for historic preservation credits will maintain or replace w/matching materials, the existing/original exterior finish surfaces
    Site entry w/ permanent, illuminated entry sign and decorative fence              Rehab of bldgs w/out existing brick/stone over 40% (& ineligible for historic credits) will replace & upgrade existing exterior finish surfaces on all wall faces w/brick or product w/40 yr warranty
    Freestanding shelters                                                             For single story buildings, the total building envelope will have 35% minimum brick coverage; remaining 65% will be fiber cement siding or stucco
                                                                                      Attractive Features
                                                                                      <<Select attractive features>>
                                                                                      Recreation of existing or missing known historic decorative elements
                                                                                      Addition of decorative elements
                                                                                      Addition of or the redesign of existing covered entries
                                                                                      Addition of new or redesign of existing durable attractive stair and railing elements

    Unit Amenities                                                                       Site Amenities
    (Select an amenity from options provided here)                                       (Select an amenity from options provided here)
    Microwave Oven in every unit                                                         Attractively fenced community gardens
    In-sink disposal in every unit                                                       Equipped play court (basketball, volleyball, shuffleboard or tennis) as appropriate
    Built in dishwasher in every unit                                                    Equipped walking path with exercise stations or sitting areas
    Washer/dryer hookups in all units in addition to required central laundry            Picnic area equipped with adequate picnic tables and grills
                                                                                         Equipped playground (Must include minimum of three different pieces of equipment)
    Washers and dryers are installed and maintained in every unit at no additional cost to tenants
                                                                                         Tot lot (fenced and equipped
    Installed call system in all units, including a buzzer and light to the exterior (basic amenity for senior projects)with a minimum of three pieces of equipment)
    High-speed internet access (see QAP requirements)                                    Large open playing fields (of at least 5,000 square feet) (Family projects only)
                                                                                         Covered pavilion with picnic/barbecue facilities to encourage community or family reunion type functions
                                                                                         Furnished Children’s Activity center (must have furnishings, TV, educational media and recreational equipment)
                                                                                         Furnished Library (must include sitting areas, tables, periodicals, adequate reference materials)
                                                                                         Equipped Computer Center (must have high-speed internet access for every computer, and one computer and printer for every 25 units)
                                                                                         Swimming Pool
                                                                                         Furnished Exercise/Fitness Center
                                                                                         Complete built-in fire sprinkler system in every unit and the community center, including an exterior audio and visual alarm system

      Additional Requirements and Amenities for Senior projects




        ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                           Part VIII-Threshold Criteria                                                                                                                                68 of 88
                                          PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
            Georgia Department of Community Affairs                                                                          2011 Funding Application                                                                         Office of Affordable Housing
                                                                                                                                                                                           Score           Self DCA
                                                                                                                                                                                           Value          Score Score
                                                                                                                                                                            TOTALS:          90            10    10
1. APPLICATION COMPLETENESS/ORGANIZATION                                                   (Applicants start with 10 pts. Any points entered will be subtracted from score value)            10            10    10            X
    A. Missing or Incomplete Documents                 Number: 0               For each missing or incomplete document, one (1) point will be deducted                                        7      A.
    B. Financial and Other Adjustments                 Number: 0               1-3 adjustments/revisions = one (1) pt deduction total; then (1) pt deducted for each add'l adjustment.        0      B.
    C. Organization                                    Number: 0               One (1) pt deducted if not organized in DCA format and/or required document not in correct tab.                1      C.
Applicant's comments regarding this section of scoring:
Non-competitive Tax Exempt Bond Financed Project: Per 2011 QAP, Appendix II & Scoring Conditions are not applicable
                                                                                                                                                                                                                            Row size may be
DCA's Comments:                                    Enter "1" for each item                                                                      Enter "1" for each item                           Enter "1" for each item
                                                                                                                                                                                                                              increased.
A. Missing / incomplete documents:                 Nbr        0        B. Financial adjustments/revisions requested:                          Nbr          0          C. Documents not organized correctly: Nbr      0
1                                                                      1                                                                                              1

2                                                                       2                                                                                              2
                                                                                                                                                                                                                            Row size may be
3                                                                       3                                                                                              3                                                      increased.
4                                                                       4                                                                                              4

5                                                                       5                                                                                              5

6                                                                       6                                                                                              6

7                                                                       7                                                                                              7

8                                                                       8                                                                                              8

9                                                                       9                                                                                              9

10                                                                      10                                                                                             10

11                                                                      11                                                                                             11

12                                                                      12                                                                                             12




            ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                  Part IX A-Scoring Criteria                                                                                       69 of 88
                                     PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
          Georgia Department of Community Affairs                                                                               2011 Funding Application                                                                                    Office of Affordable Housing
                                                                                                                                                                                                          Score           Self DCA
                                                                                                                                                                                                          Value          Score Score
                                                                                                                                                                                   TOTALS:                 90             10    10
2. DEEPER TARGETING / RENT AND INCOME RESTRICTIONS                                                                                                                                                          3                               X
   50% Gross Rent Restrictions / 50% Income Restrictions:                                  Nbr units to have these restrictions:                                     Percent of Residential Units:         0.0%
   Applicant's comments regarding this section of scoring:

   DCA's Comments:



3. DESIRABLE AND UNDESIRABLE CHARACTERISTICS                                               See QAP Scoring for further requirements. Applicants must complete Desirable/Undesirable Certification form.     12            0     0           X
                                                                                                                                                                                                            10            0     0      Net Desirable/Undesirable, exclusive of Bonus
A. Desirable Activities                 (1 pt each)                   Number of sites under construction                                                                                                    10      A.
B. Bonus Desirable Sites                Pts only awarded if applicant scores 10+ pts in base Desirables section w/out any Undesirable deductions,                                                            2      B.
C. Undesirable Sites                    (1 pt subtracted each)       Nbr sites where conditions making property undesirable are temporary & change/mitigation is imminent                                 various   C.

   Applicant's comments regarding this section of scoring:

                                                                                                                                                                                                                                       Row size may be
                                                                                                                                                                                                                                         increased.


   DCA's Comments:

                                                                                                                                                                                                                                       Row size may be
                                                                                                                                                                                                                                         increased.



4. Community Transportation Options                                                        See scoring criteria for further requirements and information                                                    2             0     0           X
A. Rapid Rail                                                                                                                                                                                               2       A.
B. Public Transit Stop                                                                                                                                                                                      1       B.
   Applicant's comments regarding this section of scoring:



   DCA's Comments:




          ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                       Part IX A-Scoring Criteria                                                                                                         70 of 88
                                              PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
           Georgia Department of Community Affairs                                                                                           2011 Funding Application                                                        Office of Affordable Housing
                                                                                                                                                                                                  Score         Self DCA
                                                                                                                                                                                                  Value        Score Score
                                                                                                                                                                                        TOTALS:    90           10    10
5. Adaptive Reuse                                   (w/PNA & supporting documentation - see scoring criteria)                   See scoring criteria for further requirements and information       1                        X
   Will the entire building be an adaptive reuse?
   Existing building to be adapted was formerly used as:
   For rehabilitation projects, is the building to be adapted for reuse already part of the existing multifamily development?
   Applicant's comments regarding this section of scoring:



   DCA's Comments:




6. Brownfield                                       (With EPA/EPD Documentation)                                                See scoring criteria for further requirements and information       2                        X
   Environmental regulatory agency which has designated the site as a Brownfield and determined:cleanup guidelines:
   Applicant's comments regarding this section of scoring:



   DCA's Comments:




7. SUSTAINABLE DEVELOPMENTS                      Choose only one. See scoring criteria for further req'mts. <Select a Sustainable Development Certification>                   3                                 0           X
   Does project meet threshold requirement for Building Sustainability and does owner agree to implement the following to educate residents and management?
    A. Educate tenants with a project manual provided to each tenant upon move-in and conduct at least 1 class on green building features of the units prior to the submission                            A.
         of LIHTC final allocation application. Submit a copy of the manual along with a sign-in sheet for the class conducted prior to the submission of LIHTC final allocation
         application.
    B. Educate management and maintenance staff with an orientation and produce a green operations and maintenance manual detailing sustainable features, the staff's role                                B.
         in maintaining those features, and a replacement parts product source guide. Submit a copy of the manual to DCA prior to the submission of LIHTC final allocation
         application.
   Applicant's comments regarding this section of scoring:




   DCA's Comments:




           ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                                  Part IX A-Scoring Criteria                                                                       71 of 88
                                           PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
            Georgia Department of Community Affairs                                                                                  2011 Funding Application                                                                                 Office of Affordable Housing
                                                                                                                                                                                                                Score          Self DCA
                                                                                                                                                                                                                Value         Score Score
                                                                                                                                                                                       TOTALS:                   90            10    10
8. STABLE COMMUNITIES / REDEVELOPMENT / REVITALIZATION                                                                <Select a Stable Communities/Redevelopment/Revitalization option>                           6             0             X
                                   Additional required questions depending on option selected above:
A. Stable Communities                                                                                                                                                                                             4
    1.    Project is located in a census tract that meets the following demographics according to the most recent FFIEC Census Report (www.ffiec.gov/WebCensus/):                                                             Yes/No Yes/No
    a)    Less than 10% below Poverty level                           (see Income)                                                                                                                                      a)
    b)    Designated Middle or Upper Income level                     (see Demographics)                                                                                                                                b)
     c)   Market study must demonstrate need for affordable housing                                                                                                                                                     e)
    2.    Project is located in a census tract that meets the following demographics according to the most recent FFIEC Census Report (www.ffiec.gov/WebCensus/):                                                             Yes/No Yes/No
    a)    Less than 20% below Poverty level                           (see Housing)                                                                                                                                     a)
    b)    Designated Middle or Upper Income level                     (see Demographics)                                                                                                                                b)
     c)   Market study must demonstrate need for affordable housing                                                                                                                                                     e)
B. Community Redevelop / Revitalization Plans and Strategies                                                                                                                                                      6
    1. HOPE VI or Choice Neighborhoods Initiatives - the Initiative will:                                                                                                                                                     Yes/No Yes/No
     a) Provide affordable units for an extended period of 30 years or more?                                                                                                                                            a)
     b) Be part of a mixed income phased community with a significant market component?                                                                                                                                 b)
     c) Facilitate the deconcentration of poverty?                                                                                                                                                                      c)
     d) Provide for community improvements or amenities?                                                                                                                                                                d)
    2. Statutory Redevelopment Plans                               Plan clearly targets project's specific neighborhood and is proven to be current, ongoing and directly affecting site of proposed project?           2.
    3. Redevelopment Zones                                         Type:                     <<Select>>            Identifier / Nbr:                                                                                    3.
    4. Local Redevelopment Plan - includes items below?            Name of Plan:                                                                                                                                        4.
     a) Adopted on or before January 1, 2011?                      Date adopted:                                                                                                                                        a)
     b) A discussion of potential sources of funding for the plan;                                                                                                                                                      b)
     c) A clearly delineated target area that includes the proposed project site                                                                                                                                        c)
     d) Detailed policy goals (one of which must be the rehabilitation or production of affordable rental housing)                                                                                                      d)
     e) Implementation measures along with specific time frames for the achievement of such policies and housing activities.                                                                                            e)
      f) The proposed development project must support at least one of the goals of the redevelopment or revitalization plan;                                                                                            f)
     g) An assessment of the existing physical structures and infrastructure of the community                                                                                                                           g)
   Is the Plan:                                                                                                                                                                                                               Yes/No Yes/No
     h) Formulated by the Owner of the project and submitted to a local government for approval?                                                                                                                        h)
      i) A short-term work plan?                                                                                                                                                                                         i)
      j) A comprehensive plan, consolidated plan, municipal zoning plan or land use plan?                                                                                                                                j)
     k) More than four years old?                                                                                                                                                                                       k)
   Applicant's comments regarding this section of scoring:




   DCA's Comments:




            ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                          Part IX A-Scoring Criteria                                                                                               72 of 88
                                        PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
           Georgia Department of Community Affairs                                                                  2011 Funding Application                                                                          Office of Affordable Housing
                                                                                                                                                                                    Score            Self DCA
                                                                                                                                                                                    Value           Score Score
                                                                                                                                                               TOTALS:                90             10    10
9. PHASED DEVELOPMENTS / PREVIOUS PROJECTS                                                                                (choose only one)                                            3              0     0         X
     A. Phased Developments                                                                                                                                                            3       A.
      1. Is the proposed project part of a Phased Development in which one or more phases received an allocation of 9% tax credits within the past 3 funding rounds and at                     1.
         least one phase has commenced construction per that allocation?
         If Yes, indicate DCA Project Nbr and Project Name of that phase:               DCA Project Nbr:                  Project Name
      2. Was the community originally designed as one development with different phases?                                                                                          2.
      3. Are any other phases for this project also submitted during the current funding round?                                                                                   3.
      4. Was site control over the entire site (including all phases) in place when the initial phase was closed?                                                                 4.
OR B. Previous Projects                                                                                                                                                     3     B.    0       0
          Proposed development site is within the boundaries of a Local Government where a 9% Credit, 4% Credit and/or HOME project has not been awarded within the last <Select> DCA funding cycles.
   Applicant's comments regarding this section of scoring:

    DCA's Comments:


10. MARKET                                                                                                                                                                             2                              X
    For DCA determination:                                                                                                                                                                                   Yes/No
 a) Have occupancy rates at comparable DCA properties experienced a significant decline?                                                                                                               a)
 b) Are there more than two DCA funded projects in the primary market area which have occupancy rates of less than 90% and which compete for the same tenant base as the proposed
                                                                                                                                                                                                       b)
    project?
 c) Does analysis of one or more comparable properties in the market area indicate that the property may have difficulty reaching stabilized occupancy within the required timeframe?                  c)
 d) Does DCA have one or more projects in the primary market area that have been unable to convert construction to permanent loans due to failure to reach stabilized occupancy?                       d)
 e) Has there been a significant change in economic conditions in the proposed market that was unknown at the time of Application and which could detrimentally affect the long term viability of
                                                                                                                                                                                                       e)
    the proposed project and the proposed tenant population?
  f) Will foreclosures in the proposed market area detrimentally affect the ability of the proposed project to lease up?                                                                                f)
 g) Are the proposed rents at or near market rate rents of comparable properties?                                                                                                                      g)
 h) Does the proposed market area appear to be overestimated, creating the likelihood that the demand for the project is weaker than projected?                                                        h)
     Applicant's comments regarding this section of scoring:




    DCA's Comments:




           ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                          Part IX A-Scoring Criteria                                                                                        73 of 88
                                        PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
          Georgia Department of Community Affairs                                                                        2011 Funding Application                                                                        Office of Affordable Housing
                                                                                                                                                                                              Score         Self DCA
                                                                                                                                                                                              Value        Score Score
                                                                                                                                                                       TOTALS:                 90           10    10

11. WAIVER OF QUALIFIED CONTRACT                        RIGHT / TENANT OWNERSHIP PLAN                                       (choose only one)                                                   1            0    0      X
    A. Waiver of Qualified Contract Right                Applicant agrees to forego cancellation option for at least 5 yrs after close of Compliance period?                                    1     A.
    B. Tenant Ownership                                                                                                                                                                         1     B.
   Applicant's comments regarding this section of scoring:

   DCA's Comments:




12. PRESERVATION                                                                                                               (choose only one)                                                6            0    0      X
    A. Historic Designation                                                                                                                                                                     3     A.     0    0
        Indicate which category below the project falls into (select either category "One" or category "Two"). Documentation required by the QAP must be included in
        application binder where indicated by the Tabs Checklist:
    1. The property is a certified historic structure with an approved Part 1-Evaluation of Significance AND has submitted a Part 2- Description of Rehabilitation (and/or the                  3
       Georgia equivalent, Part A-Preliminary Certification) and has received approval from the Georgia DNR-HPD and the NPS of the scope of the rehabilitation as presented
       in the Part 2 and/or Part A application(s)
    2. The property is a certified historic structure (either listed individually on the National Register, or as a contributing structure in a National Register Historic District), or is     1
       deemed via a Georgia DNR-HPD approved NPS Part 1-Evaluation of Significance to have a preliminary determination of listing on the National Register.

    B. Preservation of Affordable Projects                                                                                                                                                      6     B.     0    0
    1. Expiring Tax Credit Properties                                                                                                                                                           6     1.
    2. USDA Properties                                                                                                                                                                          2     2.
    3. HUD Properties                                                                                                                                                                           2     3.
   Applicant's comments regarding this section of scoring:




   DCA's Comments:




13. NONPROFIT                                                                                                                  (choose only one)                                                3            0    0      X
A. GP comprised of 100% qualified NP organization having ownership in 5+ successful LIHTC projects they developed, constructed/rehabbed and P-I-S.                                              3     A.
B. GP comprised of 100% qualified NP organization having ownership in 2+ successful LIHTC projects they developed, constructed/rehabbed and P-I-S.                                              2     B.
   Applicant's comments regarding this section of scoring:



   DCA's Comments:




          ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                Part IX A-Scoring Criteria                                                                                      74 of 88
                                        PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
          Georgia Department of Community Affairs                                                                         2011 Funding Application                                                                           Office of Affordable Housing
                                                                                                                                                                                             Score            Self DCA
                                                                                                                                                                                             Value           Score Score
                                                                                                                                                                       TOTALS:                 90             10    10

14. TAX CREDIT EXPERIENCE                                                                                                       (choose only one)                                               2              0      0      X
A. GP and Developer have been a project participant in two LIHTC projects. List project names and nbrs in Comments below.                                                                       2       A.
B. GP and Developer have been a project participant in one LIHTC project. List project name and nbr in Comments below.                                                                          1       B.
   Applicant's comments regarding this section of scoring:



   DCA's Comments:




15. RURAL                                                                                                                       (80 residential units or less)                                  3             0              X
   If claiming Rural points for both this project and another rural project, list the project name of the other rural project in box below and indicate points claimed. List all other rural projects
   submitted in this funding round in Comments below for which no points are being claimed.
        Project Name                                                                       Points Claimed for other project:                             Points Claimed for this project:
   Applicant's comments regarding this section of scoring:                                                                      DCA's Comments:




16. DCA COMMUNITY INITIATIVES                                                                                                                                                                   1                            X
   Letter from a designated                             <<Select a DCA Community Initiative>>            that clearly:                                                                                       Yes/No Yes/No
    a) identifies the project as located w/in political jurisdiction:           < Select applicable GICH >                                <Select Community of Opportunity>                             a)
    b) is indicative of the community’s affordable housing goals                                                                                                                                        b)
    c) identifies that the project meets one of the objectives of the Community                                                                                                                         c)
    d) is excuted by the official representative of the Community                                                                                                                                       d)

   Applicant's comments regarding this section of scoring:




   DCA's Comments:




          ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                                 Part IX A-Scoring Criteria                                                                                         75 of 88
                                      PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
           Georgia Department of Community Affairs                                                                 2011 Funding Application                                                  Office of Affordable Housing
                                                                                                                                                                Score         Self DCA
                                                                                                                                                                Value        Score Score
                                                                                                                                                      TOTALS:    90           10    10
17. LEVERAGING OF RESOURCES                                                                                                                                      8            0       0      X
  To be eligible for points under section A or B below, the following criteria must be met:                                                                                  Yes/No Yes/No
   1. Funding or assistance provided will be binding and unconditional except as set forth in this section.                                                             1.
    2.   Resources will be utilized if the project is selected for funding by DCA                                                                                       2.
    3.   Loans are for both construction and permanent financing phases                                                                                                 3.
    4.   Loans are for a minimum period of ten years and reflect interest rates at or below AFR.                                                                        4.
    5.   Commitment or award documentation meets the terms and conditions as applicable specified in Appendix I, Threshold Criteria, Section I (I).                     5.
A. Grants/Loans                                                                                                                                                   3     A.    0       0
    1.   Community Development Block Grant (CDBG) program funds                    ($500,000 minimum)                                                             1     1.
    2.   Federal Home Loan Bank Affordable Housing Program (AHP)                   ($500,000 minimum)                                                             1     2.
    3.   HOME Funds (non DCA source)                                               ($500,000 minimum)                                                             1     3.
    4.   Long term Ground leases for nominal consideration and no other land costs                                                                                1     4.
    5.   NSP not allocated from DCA                                                ($1,000,000 minimum)                                                           2     5.
    6.   Beltline Grant                                                            ($1,000,000 minimum)                                                           2     6.
    7.   Housing Opportunity Bonds                                                 ($1,000,000 minimum)                                                           2     7.
    8.   HUD 202 or 811 program funds                                              ($3,000,000 minimum)                                                           3     8.
B. Efficient use of DCA Resources                                                   DCA OAH HOME Loan Consent                                                     3     B.
C. Off Site Improvement, Amenity and Facility Investment                                                                                                          2     C.
    1. Name of Unrelated Third Party
    2. Description of Improvement(s)



    3. Full Cost of Improvement

  Applicant's comments regarding this section of scoring:




  DCA's Comments:




           ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                        Part IX A-Scoring Criteria                                                                 76 of 88
                                     PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
         Georgia Department of Community Affairs                                                                     2011 Funding Application                                                                   Office of Affordable Housing
                                                                                                                                                                                   Score         Self DCA
                                                                                                                                                                                   Value        Score Score
                                                                                                                                                                TOTALS:             90           10    10
18. SUPERIOR PROJECT CONCEPT AND DESIGN                                                                                                                                              6                           X
  Is the applicant claiming these points?
  If Yes, a form for applicant's required narrative is located in Tab IX-B of this electronic core application. Is a completed printed copy (no more than two pages) included in
  the application binder where indicated by the Tabs Checklist?
  Applicant's comments regarding this section of scoring:



  DCA's Comments:




19. BONUS POINTS                                                                                                                                                                     6            0    0         X
A. Compliance with DCA Web-Based MITAS System Requirements                                                                                                                           3     A.
B. Marketing to Tenants with Special Needs                                                                                                                                           3     B.
  Owner and Developer agree to accept rental assistance from a state, federal or other approved organization for up to 5% of the units in their Georgia owned Tax credit developments
  for purposes of housing tenants covered by the settlement order between the State of Georgia and the Department of Justice in case # 1:10-CV-249-CAP?
  Applicant's comments regarding this section of scoring:

  DCA's Comments:



20. COMPLIANCE / PERFORMANCE                                                                                                                                                        10           0     0         X
  Is there a Pre-Determination Letter From DCA included in this application for this criterion?
  A. Owner/Developer                                                                                                                                                                       A.
  B. Manager (Pass or Fail)                                                                                                                                                                B.
  Applicant's comments regarding this section of scoring:
                                                                                                                                                                                                              Row size may be
                                                                                                                                                                                                                increased.

  DCA's Comments:
                                                                                                                                                                                                              Row size may be
                                                                                                                                                                                                                increased.

                                                                                    TOTAL POSSIBLE SCORE                                                                            90           10   10




      (Select a unit amenity from options provided here)                                                                  (Select an amenity from options provided here)
      Microwave Oven in every unit                                                                                        <<Select>>
      In-sink disposal in every unit                                                                                      Attractively fenced community gardens
      Built in dishwasher in every unit                                                                                   Equipped soccer field
        ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                             Part IX A-Scoring Criteria                                                                                  77 of 88
                        PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
 Georgia Department of Community Affairs                                                                2011 Funding Application                                                       Office of Affordable Housing
                                                                                                                                                              Score       Self DCA
                                                                                                                                                              Value      Score Score
                                                                                                                                              TOTALS:           90        10    10
Installed call system in all units                                                                              Tennis court
High-speed internet access No Cost                                                                              Equipped walking path with exercise stations or sitting areas
High-speed internet access Low Cost                                                                             Retention pond/Fountain
                                                                                                                Equipped playground
<<Select>>                                                                                                      Covered pavilion with picnic/barbecue facilities
Construction of on-site access road req'd for property access                                                   Furnished Children’s Activity center
Construction of off-site access road req'd for property access                                                  Furnished Library
Development of parks on a master plan development site                                                          Equipped Computer Center
Development of green space on a master plan development site                                                    Furnished Exercise/Fitness Center
Development of walking trails on a master plan development site                                                 Furnished sitting areas by elevators
Development of YMCA center                                                                                      Swimming Pool
Development of youth center                                                                                     Complete built-in fire sprinkler system
Development of senior center                                                                                    Off Site Improvements in Master Plan Communities
Construction of sidewalks adjacent to the property
Construction of streetscape adjacent to the property
Construction of sidewalks and streetscape adjacent to the property
Other (See comments)


                                               GICH Communities           Signature          Communities of
                                                                         Communities          Opportunity
                                               < Select applicable   < Select Signature    <Select Community
                                               GICH >                Community >           of Opportunity>


                                               Americus / Sumter     Barnesville           Berrien
                                               County
                                               Auburn                Calhoun               Burke
                                               Berrien County        Colquitt /Miller Co   Calhoun
                                               Brunswick             Covington /Newton     Clay
                                                                     Co
                                               Calhoun               Dublin                Coffee
                                               Camden County         Fayetteville          Colquitt
                                               Cartersville          Flovilla / Butts Co   Cook
                                               Colquitt              Forsyth               Decatur
                                               Cordele               Holly Springs         Dooly
                                               Covington             Jesup / Wayne Co      Dougherty


                                               Dalton / Whitfield    Remerton/Valdosta     Early
                                               County
                                               Douglas               Rome                  Elbert
                                               Eatonton              Snellville            Glascock
                                               Fort Valley           St.                 Grady
                                                                     Mary's/Kingsland/Wo
                                                                     odbine/Camden Co


                                               Gray / Jones County Tifton / Tift Co        Hancock




 ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                          Part IX A-Scoring Criteria                                                                   78 of 88
                       PART NINE - SCORING CRITERIA - 2011-530 Shady Grove Apartments, Ellaville, Schley County
Georgia Department of Community Affairs                                                             2011 Funding Application                                       Office of Affordable Housing
                                                                                                                                             Score    Self DCA
                                                                                                                                             Value   Score Score
                                                                                                                                   TOTALS:    90      10    10
                                              Griffin              Toccoa / Stephens   Irwin
                                                                   Co
                                              Hall County          Wilkinson Co        Jefferson
                                              Hawkinsville         N/a                 Jenkins
                                              Metter                                   Lee
                                              Milledgeville                            Lincoln
                                              Moultrie                                 Macon
                                              Newnan                                   Marion
                                              Rome                                     McDuffie
                                              Sandersville /                           Miller
                                              Tennille /
                                              Washington County


                                              Sylvania                                 Mitchell
                                              Sylvester                                Schley
                                              Thomasville                              Seminole
                                              Thomson / McDuffie                       Stewart
                                              County
                                              Tifton                                   Taliaferro
                                              Toccoa                                   Taylor
                                              Valdosta                                 Terrell
                                              Vienna                                   Thomas
                                              Washington                               Warren
                                              Waycross                                 Webster
                                              Waynesboro                               Wilkes
                                              Winder                                   Worth




ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx - May 2011                                                  Part IX A-Scoring Criteria                                                        79 of 88
Georgia Department of Community Affairs                                               Office of Affordable Housing
                 Scoring Section 18 - Superior Project Concept and Design Narrative
                                            Shady Grove Apartments
                                             Ellaville, Schley County




                                                                                                         NOTE: Row siz
                                                                                                         decreased as n
                                                                                                         will hold only 2




2011 OAH Funding Round                    ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx                      80 of 88
Georgia Department of Community Affairs                                               Office of Affordable Housing
                 Scoring Section 18 - Superior Project Concept and Design Narrative
                                            Shady Grove Apartments
                                             Ellaville, Schley County




2011 OAH Funding Round                    ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx                      81 of 88
Georgia Department of Community Affairs                                               Office of Affordable Housing
                 Scoring Section 18 - Superior Project Concept and Design Narrative
                                            Shady Grove Apartments
                                             Ellaville, Schley County




2011 OAH Funding Round                    ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx                      82 of 88
Georgia Department of Community Affairs                                               Office of Affordable Housing




                         NOTE: Row size may be increased or
                         decreased as needed. However, each cell
                         will hold only 255 characters.




2011 OAH Funding Round                    ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx                      83 of 88
Georgia Department of Community Affairs                                               Office of Affordable Housing




2011 OAH Funding Round                    ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx                      84 of 88
Georgia Department of Community Affairs                                               Office of Affordable Housing




2011 OAH Funding Round                    ea18591d-295d-4dd6-92e6-81cbfb6ccb42.xlsx                      85 of 88
    [This document is to be submitted with Application]

    APPLICATION CERTIFICATION FORM LETTER
    [to be submitted under Applicant's letterhead]

    [Date]

    Georgia Department of Community Affairs
    Office of Affordable Housing
    60 Executive Park South, NE.
    Atlanta, Georgia 30329-2231

    Re: Application for Low-Income Housing Tax Credit and/or HOME Funding

    To DCA:

    This application is submitted in accordance with the 2011 Qualified Allocation Plan and the Office of
    Affordable Housing Application Manual. In submitting this application for funding consideration, the
    undersigned applicant hereby certifies:
    1)    I am responsible for ensuring that the project consists or will consist of a qualified low-income
          building (or buildings) as defined in the Internal Revenue Code section 42(c)(2) and will satisfy all
          applicable requirements of State and federal tax law in the acquisition, rehabilitation, and operation
          of the project to receive State and federal housing tax credits.
    2)    I am responsible for all calculations and figures relating to the determination of the eligible basis of
          the building(s). I understand and agree that the amount of the credit is allocated by reference to the
          figures that I submit as to eligible and qualified basis. I understand that the actual amount of credit
          allocated may vary somewhat from the amount initially reserved or committed due to (a) the
          determination by the Georgia Department of Community Affairs ("DCA") as to the amount of
          credit necessary for the financial feasibility of the project and its viability as a qualified low-
          income housing project; (b) revisions in the calculations of eligible and qualified basis as finally
          determined; (c) fluctuations in the prevailing credit percentage; and (d) availability of the credit.

    3)    I understand and agree that DCA makes no representations or warranties regarding the financial
          feasibility of the project, the amount of credit, or the appropriateness of the allocation of the credit
          and makes no independent investigation as to the eligible and qualified basis and that any and all
          credit awards and credit amounts are solely based on representations made by me. I therefore
          agree to hold harmless and indemnify DCA and the individual directors, employees, members,
          officers, and agents of DCA in the event that I or anyone acting on my behalf, at my request or by
          and through me incurs any loss in conjunction with the project, diminution of the credit, loss of the
          credit, recapture of part or all of the credit or failure to allocate the credit requested in my
          application.

    4)    I understand and agree that neither DCA nor any of its individual directors, employees, members,
          officers, or agents assume any responsibility or make any representations or warranties with
          respect to: (i) the amount or availability of credit for the project; or (ii) the financial feasibility of
          the project.



2011 OAH Funding Application                  DCA Office of Affordable Housing                                Page 86 of 88
    5)    I understand and agree that my application for a low-income housing credit and/or HOME loan, all
          attachments thereto, amendments, and all correspondence relating to my application in particular or
          the credit in general are subject to a request disclosure under the Georgia Open Records Act and I
          expressly consent to such disclosure. I further understand and agree that any and all
          correspondence to me from DCA or other DCA-generated documents relating to my application are
          subject to a request for disclosure under the Georgia Open Records Act and I expressly consent to
          such disclosure. I agree to hold harmless DCA and the individual directors, employees, members,
          officers, and agents of DCA against all losses, costs, damages, expenses, and liability of
          whatsoever nature or kind (including, but not limited to, attorneys' fees, litigation, and court costs)
          directly or indirectly resulting from or arising out of the release of all information pertaining to my
          application pursuant to a request under the Georgia Open Records Act.

    6)    I understand that any misrepresentations in this application or supporting documentation may result
          in a withdrawal of tax credits and/or HOME loan by DCA, my (and related parties) being barred
          from future program participation, and notification of the Internal Revenue Service and/or HUD.
    7)    I certify that all Federal, State and local subsidies have been disclosed and revealed.

    In addition, Applicant understands:
    •     The above certifications are of a continuing nature and apply at all stages of the application
          process: initial application, commitment, and final allocation/funding.
    •     The State of Georgia Department of Community Affairs (DCA) must be notified of any subsequent
          events or information, which would change any statements or representations in the attached
          application or amendments thereto;
    •     DCA reserves the right to verify all information or documents used in processing the application,
          including requiring credit checks on all parties involved in the transaction. Applicant hereby
          authorizes the financing bank, accountant, mortgage lender, creditors, other state housing agencies
          and others sources identified in the application to release information to DCA or its designee in
          order to verify the accuracy of information in the application and amendments thereto.

    Applicant agrees and understands that it may be charged for all fees and costs incurred by DCA in the
    inspection of funded properties during and after construction and in the enforcement of DCA
    regulations and policies.
    To the best of my knowledge, all of the information in the attached application, including all supporting
    documentation is correct, complete and accurate.

    APPLICANT/OWNER


                        Printed Name                                                   Title




                          Signature                                                    Date

                                                                                     [SEAL]




2011 OAH Funding Application                 DCA Office of Affordable Housing                              Page 87 of 88
                                                                                            SUMMARY OF DCA UNDERWRITING ASSUMPTIONS
Category                                                 Specification                                               Scale                                                                                        Minumum Maximum
Funding Limits                                           LIHTC                                                       Per Project                                                                                    n/a            950,000
                                                                                                                     Per Owner Per Round                                                                            n/a           1,700,000
                                                         HOME                                                        Per Project                                                                                  800,000         2,500,000
                                                                                                                     Per Owner Per Round (% of HOME funds available)                                                n/a              25%
                                                                                                                         0 BR         1 BR        2 BR          3 BR                4 BR
                                                         Unit Cost Limit - both LIHTC and HOME                         110,481      126,647     154,003      199,229              218,693                           n/a           2,607,918 Maximum is project-specific
                                                         Brownfield Projects                                           132,577      151,976     184,804      239,075              262,432                           n/a           3,129,504 Maximum is project-specific
                                                         Historic Rehab Projects                                       121,529      139,312     169,403      219,152              240,562                           n/a           2,868,708 Maximum is project-specific
Annual Operating Expenses
  Annual Operating Expenses                              Urban          Atlanta                                      Per Unit                                                                                        4,500            n/a
                                                                        Other                                        Per Unit                                                                                        4,000            n/a
                                                         Non-MSA Rural w/out USDA Financing                          Per Unit                                                                                        3,000            n/a
                                                         Rural w/USDA Financing                                      Per Unit                                                                                        3,000            n/a
   Replacement Reserve Pymt                              Rehab                                                       Per Unit                                                                                          350            n/a
                                                         New                                                         Per Unit                                                                                          250            n/a
                                                         All Single Family                                           Per Unit                                                                                          420            n/a
                                                         All Historic Rehab                                          Per Unit                                                                                          420            n/a
Development Costs
  Pre-Development Costs                                  Tax Credit Application Fee                                  Per Project - For Profit or Joint Venture                                                              4,000
                                                         Tax Credit Application Fee                                  Per Project - Nonprofit                                                                                3,000
                                                         DCA Loan Application Fee                                    Per Project - For Profit or Joint Venture                                                              1,000
                                                         DCA Loan Application Fee                                    Per Project - Nonprofit                                                                                 500
                                                         DCA Loan / LIHTC Application Fee                            Per Project - For Profit or Joint Venture                                                              5,000
                                                         DCA Loan / LIHTC Application Fee                            Per Project - Nonprofit                                                                                3,500
   Hard Costs                                            Rehab                                                       Per unit - Properties 20 yrs old or less                                                     25,000            see UCL
                                                                                                                     Per unit - Properties over 20 yrs old                                                        30,000            see UCL
   Construction Contingency                              New                                                         LESSER OF % of Construction Hard Costs                                                        N/A                5%
                                                                                                                     OR Dollar amount                                                                              N/A              500,000
                                                         Rehab                                                       LESSER OF % of Construction Hard Costs                                                        N/A                7%
                                                                                                                     OR Dollar amount                                                                              N/A              500,000
   Builder Profit                                         n/a                                                        % of (Construction Hard Costs, exclusive of Contingency and Contractor Svcs)                   n/a               6%
   Builder's Overhead                                     n/a                                                        % of (Construction Hard Costs, exclusive of Contingency and Contractor Svcs)                   n/a               2%
   General Requirements (exclusive of Contractor Services)n/a                                                        % of (Construction Hard Costs, exclusive of Contingency and Contractor Svcs)                   n/a               6%
   LIHTC Allocation Fee                                   LIHTC Fee                                                  Percent of Credit Request                                                                               7%
   4% LIHTC IRS Form 8609 Fee                             LIHTC Fee                                                  Percent of Credit Request                                                                               7%
   Front-End Analysis Fee                                                                                                                                                                                                   2,700
   Compliance Monitoring Fee                              LIHTC Fee (both 4% and 9% )                                Per Unit                                                                                      700                n/a
                                                          USDA or URFA Fee                                           Per Unit                                                                                      150                n/a
   Developer's Fee                                                                                                   Maximum                                                                                              1,800,000
                                                          Identity of Interest     New Construction                  % of (TDC - budgeted DF - Demo - uw Land)                                                               15%
                                                                                   Acq / Rehab Acq portion           % of Existing Structures acquisition cost (including Acquisition Legal Fees)                            15%
                                                                                                  Rhb portion        % of (TDC - budgeted DF - uw Land - Acq Lgl Fees - Existing Structures)                                 15%
                                                                                   Rehabilitation                    % of (TDC - budgeted DF - uw Land - Acq Lgl Fees - Existing Structures)                                 15%
                                                                                                  % DF to bldg acq   % of (TDC - budgeted DF - uw Land)                                                                      15%
                                                          No Identity of Interest                                    LESSER OF % of (TDC - uw Land - budgeted DF - Bldr profit)                                              15%
                                                                                                                     OR percentage proposed                                                                                   ?
                                                         Deferred DF Term (Years)                                                                                                                                   0                 15
                                                         Deferred DF % of Total DF                                                                                                                                 0%                50%
   Operating Deficit Reserve                                                                                         Mths of Year 1 Debt Service (out of 12)                                                        6                 n/a
                                                                                                                     Mths of Year 1 O&M Expense (out of 12)                                                         6                 n/a
   Rent-Up Reserve                                                                                                   Mths of projected operating expenses                                                           3                 n/a
   Final Inspection Fee                                                                                              Per Project                                                                                            3,000

Proforma Operating Forecast
   Number of Persons in Family and Percentage Adjustments for Rent Calculations                                           1             2              3              4              5                6      7      8
                                                                                                                         70%          80%             90%            Base          108%             116%   124%   132%
   Revenue Growth Rate                                                                                               Per Operation Year                                                                                      2%
   V&C Loss Rate (Non-PBRA/USDA)                                                                                     Per Operation Year                                                                                      7%
   V&C Loss Rate (PBRA/USDA)                                                                                         Per Operation Year                                                                                      7%
   Operating Expense Growth Rate                                                                                     Per Operation Year                                                                                      3%
   Replacement Reserve Annual Payment Growth Rate                                                                    Per Operation Year                                                                                      3%
   Operating Reserve Annual Payment Growth Rate                                                                      Per Operation Year                                                                                      0%




                                 2011                                                                                Assumed Family Size Adjustments
                   Area            AMI                                                                                # Bdrms       Adj         AFS
            Albany                48,700                                                                                     0           0.7            1
            Athens-Clarke County58,600                                                                                       1          0.75           1.5
                                  68,300
            Atlanta-Sandy Springs-Marietta                                                                                   2           0.9            3
            Augusta-Richmond Co.  57,100                                                                                     3          1.04           4.5
            Brunswick             59,400                                                                                     4          1.16            6
            Butts Co.             63,400                                                                                     5          1.28           7.5
            Chattanooga           57,000
            Columbus              51,600
            Dalton                50,200
            Gainesville           61,200
            Haralson Co.          46,800
                                  47,100
            Hinesville - Fort Stewart
            Lamar Co.             42,700
            Long Co.              48,500
            Macon                 54,000
            Meriwether Co.        48,900
            Monroe Co.            63,700
            Murray Co.            47,100
            Rome                  52,100
            Savannah              60,000
            Valdosta              50,300
            Warner Robins         70,400
            Appling Co.           44,500
            Atkinson Co.          36,500
            Bacon Co.             45,100
            Baldwin Co.           49,700
            Banks Co.             48,400
            Ben Hill Co.          36,500
            Berrien Co.           43,700
            Bleckley Co.          52,300
            Bulloch Co.           56,000
            Calhoun Co.           43,200
            Camden Co.            60,800
            Candler Co.           40,700
            Charlton Co.          48,200
            Chattooga Co.         40,500
            Clay Co.              44,200
            Clinch Co.            41,600
            Coffee Co.            42,300
            Colquitt Co.          40,400
            Cook Co.              41,100
            Crisp Co.             40,400
            Decatur Co.           46,800
            Dodge Co.             46,200
            Dooly Co.             39,800
            Early Co.             41,300
            Elbert Co.            39,500
            Emanuel Co.           38,800
            Evans Co.             44,200
            Fannin Co.            45,700
            Franklin Co.          45,600
            Gilmer Co.            43,900
            Glascock Co.          42,800
            Gordon Co.            51,700
            Grady Co.             45,000
            Greene Co.            47,400
            Habersham Co.         50,200
            Hancock Co.           33,300
            Hart Co.              49,900
            Irwin Co.             55,800
            Jackson Co.           58,600
            Jeff Davis Co.        38,400
            Jefferson Co.         38,500
            Jenkins Co.           36,500
            Johnson Co.           32,800
            Laurens Co.           50,600
            Lincoln Co.           43,200
            Lumpkin Co.           52,400
            Macon Co.             38,600
            Miller Co.            44,700
            Mitchell Co.          47,700
            Montgomery Co.        47,400
            Morgan Co.            56,700
            Peach Co.             58,800
            Pierce Co.            48,700
            Polk Co.              48,000
            Pulaski Co.           46,600
            Putnam Co.            52,000
            Quitman Co.           40,400
            Rabun Co.             52,600
            Randolph Co.          33,500
            Schley Co.            48,100
            Screven Co.           49,000
            Seminole Co.          45,200
            Stephens Co.          44,700
            Stewart Co.           38,200
            Sumter Co.            40,800
            Talbot Co.            46,600
            Taliaferro Co.        25,200
            Tattnall Co.          45,700
            Taylor Co.            37,000
            Telfair Co.           40,300
            Thomas Co.            51,200
            Tift Co.              47,000
            Toombs Co.            43,300
            Towns Co.             51,200
            Treutlen Co.          38,400
            Troup Co.             50,100
            Turner Co.            41,000
            Union Co.             50,700
            Upson Co.             44,900
            Ware Co.              46,000
            Warren Co.            36,500
            Washington Co.        42,800
            Wayne Co.             51,700
            Webster Co.           37,800
            Wheeler Co.           47,100
            White Co.             53,800
            Wilcox Co.            41,100
            Wilkes Co.            42,000
            Wilkinson Co.         45,200

				
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